Home » News » Economy: Peru leads the regional economic crisis and falls by 30.2%, the worst record

Economy: Peru leads the regional economic crisis and falls by 30.2%, the worst record

The fell 30.2% compared to 2019, the worst fall among the main Latin American economies and the worst record in the country’s history. Due to the pandemic, in the second quarter thousands of Peruvians had to close businesses and left almost half of the population unemployed.

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That devastating figure, which places the country among the most affected in economic terms in the world, was revealed by the National Institute of Statistics of Peru (INE) in its technical report on the Behavior of the Peruvian Economy in the Second Quarter of 2020.

According Although industries such as mining and fishing recovered quickly after the Martín Vizcarra government relaxed restrictions in May, retail sectors and small businesses have gone bankrupt.

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“It is not so easy to return to economic activity when you have had such a brutal fall. Many companies have gone bankrupt and will continue to fail. It is optimistic to think that we have already hit rock bottom “Miguel Jaramillo, a Grade researcher, told the US publication.

In Peru, people with jobs fell by almost 40% compared to 2019 and decreased by almost 50% in urban areas.

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