Parting Shot: Dual track

Parting Shot: Dual track

Peru Comment & Opinion

The first thing we have to do is put the economy on a sustainable path. We have been very lucky with the new copper mines that have opened up. The big risk is when those projects end, which will occur next year. We believe to achieve growth you need to go on a dual track. First, you have to stimulate the economy through fiscal reform and the private sector, and then take the time to do some structural reforms that help achieve sustainable growth. Structural reforms are important. We are planning to do four things. The first is formalize a larger share of the labor force. Right now, only 25% is formal. We’re aiming to make it 50%. Second, we need to change the tax system. The tax system has

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