Five years ago: Proposals to strengthen the Peruvian economy

Five years ago, on a day like today, Jorge del Castillo, representative of the political party APRA, proposed increased regulation in banking services during a debate at the National Agreement Forum. Del Castillo expressed his opinion that both the Banking Superintendency and Indecopi were doing very little to ensure a proper functioning of the economy. According to the former prime minister, the global crisis had shown that the "laissez-faire" policy had not been entirely effective. On that same date, there was an increase in the confidence index in Lima, reaching its highest level since mid-2013. However, this increase was only reflected in the socioeconomic strata C, D, and E, while no significant variations were observed in levels A and B. The improvement in the confidence of consumers in Lima was mainly attributed to the greater availability of employment, although it had not yet translated into a clear increase in sales for consumer-related companies. Regarding employment, it was reported that there was not a significant growth in provinces, with a 0.4% increase in Lima. The economic slowdown was having a greater impact on commercial and industrial activity, with Huancavelica and Cerro de Pasco experiencing the most contraction in employment, while Paita showed the best results. Companies with 50 or more employees were the ones still hiring at that time. This mixed economic landscape reflected the need to seek new regulatory mechanisms to ensure a balance in the market and stimulate sustainable economic growth. The proposals of Del Castillo and other political leaders aimed to strengthen existing regulatory bodies to improve oversight of banking services and other key sectors of the economy. As consumer confidence increased in Lima, it was important to analyze how these trends would translate into greater economic dynamism at a national level. The need to promote job creation, especially in less favored regions, emerged as an urgent challenge for authorities and entrepreneurs. In a context of slowdown, collaboration between the public and private sectors was essential to promote inclusive and sustainable growth in the country. Five years after these events, it is relevant to remember the discussions and proposals raised on a day like today, highlighting the importance of strengthening regulation in the financial sector, as well as promoting policies that drive job creation and equitable economic development in all regions of the country. Economic history teaches us that collaboration and planning are key to overcoming challenges and building a prosperous future for all Peruvians.