Peru’s Poverty Rate Drops to 30.8 Percent – INEI

[Bacchus4.0]

http://www.peruviantimes.com/30/perus-poverty-rate-drops-to-30-8-percent-inei/15436/

Peru’s poverty rate has decreased to just above 30 percent in 2010, but inequality appears to be increasing in the Andean country, the government said Thursday.

The National Statistics Institute, INEI, said Peru’s poverty rate in 2010 was 30.8 percent, compared to 58.5 percent in 2004, state news agency Andina reported.

INEI said that the poverty rate in urban centers is 20 percent, compared to 61 percent in rural areas. It said that extreme poverty decreased 2.2 points to 7.6 percent.

Nevertheless, the institute said there is certain evidence that Peru’s red hot economic growth has led to greater inequality. “A first look, without further analysis, it does indicate a greater gap in equity,” the INEI said, adding: “But it requires more analysis to determine the inequalities.”

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I wanted to point that reduction in just 6 years. I hear repeatedly hear that Chavez is a saint because of poverty reduction but I hear no praise for Garcia, a center leftist. Fantastic growth continues under Humala who would have won the first time he ran until Chavez opened up his fat mouth and offended Peruvians.

Lots of problems in Peru but they have achieved what the chavistas adore about Hugo without the levels of violence, corruption, inflation, shortages, non-existent judicial system, and inept, mendacious, and stupid regime Venezuela has had over the past 14 years.

[naaman fletcher]

1. Thanks for posting!

[Bacchus4.0]

2. you're welcome

I suspect the adoration has something to do with his anti-US rhetoric.

[Bacchus4.0]

3. Peru’s Exploding Economy

http://bpr.bcp.org/?p=715

In his book The World is Flat, journalist Thomas Friedman describes a leveling of the playing field, where dominant superpowers such as the United States no longer hold the upper hand over developing countries like India and China. One such country that has been seeing strong periods of economic growth is Peru. Recently, Peru has been seeing strong periods of economic growth; according to the Central Reserve Bank of Peru, its economy grew by 8.8%, 6.9%, and 6.1% in 2010, 2011, and 2012, respectively.


One major reason in for Peruvian economic growth is its strong agricultural industry, which accounts for 8% of its GDP. In fact, due to greater domestic and foreign demand, output for crops like avocados, mangoes, and coffee may increase by 20%.

Additionally, according to Andina News (a local Peruvian news agency), the Peruvian government has recently invested $2 billion into infrastructure and plans to invest more in the future. With a strong infrastructure, economic and business expansion can spread to all areas of the country, and businesses will have a larger market for goods.

Another reason for Peru’s strong economic growth is its effective currency control. With 4.25% interest rates, Peru has maintained its inflation rate at about 3%, the desired rate of the government. Its ability to sustain a steady currency rate is a primary reason for economic activity. When the value of a currency is relatively stable, more consumers are willing to invest into the economy. This consumer confidence has led to a stronger financial market overall. For instance, home sales increased by 27.1% in 2011, and the average price of homes increased by 19.1%. Both these statistics indicate that the sector has a strong demand, which is essential for a growing economy.