Challenges and opportunities: the path towards economic growth in Peru.

In a challenging economic context, Peru faces the urgent need to resume the path of growth. After years of ups and downs, it is vital for the country to once again consolidate sustained growth that benefits the entire population. Despite having experienced growth above the global average not too long ago, the Peruvian economy has faced difficulties in recent years, with figures reflecting a concerning stagnation. However, signs of recovery are beginning to emerge on the horizon. Following a brief upturn in November of last year, followed by a decline in December, the first indicators of the current year show encouraging signs. Domestic cement consumption has experienced a significant increase, as well as electricity demand and tax revenue. These factors point to the first quarter of 2024 potentially marking the beginning of a new growth stage for the country. To consolidate this positive path, it is essential to maintain a stable economic model and promote trade openness. Signing free trade agreements with countries such as India and Hong Kong would represent an opportunity to boost long-term growth. Furthermore, it is crucial to address the challenges posed by illicit activities such as illegal mining and drug trafficking, as well as strengthen institutions and efficiently control public spending. In the mining investment sector, unlocking key projects, such as the Tía María project, is a priority to stimulate economic activity. The growth of metallic mining last year, driven by projects like Quellaveco in Moquegua, underscores the importance of this sector for the country's economic recovery. 2024 is shaping up to be a crucial year for the Peruvian economy, with an urgent need to create favorable conditions to attract both domestic and foreign investment, as well as regain the trust of economic agents. Improving social programs and reducing poverty are also fundamental aspects to achieve inclusive and equitable development that benefits the entire population. In this context, it is essential for political authorities to act with responsibility and future vision, outlining clear strategies that drive economic growth and lay the foundations for a prosperous and sustainable future for Peru and its inhabitants.