LIMA, 20 Aug (Reuters) – Peru’s copper-rich economy rose 30.2% between April and June, the government said Thursday, representing a consecutive quarter in red numbers and plunged it into a technical recession.
The announcement comes when Peru, the world’s second-largest manufacturer of red metal, struggles to triumph over one of the worst new coronavirus outbreaks in the region and its economy is indifferent to the effect of strict closure.
In the first quarter of the year, Peru’s economy reached 3.5%, according to a report through the National Institute of Statistics and Information (INEI).
The most drastic decline at the time of the quarter “is due to declining domestic demand (-27.7%), and negative export behavior (-40.3%)”, INEI reported in a statement.
Peru, one of the first in Latin America to impose quarantine in mid-March to prevent the pandemic, began lifting restrictions in maximum regions in an attempt to revive the economy, which according to the central bank will contract through 12.5% of it.Year.
The cessation of all productive activities, with the exception of food, medical and monetary services, also resulted in the loss of some 6.7 million jobs across the country between April and June, INEI said.
Coronavirus cases in Peru increased to 558420 on Wednesday, almost double what was reported on June 29, making the Andean country the most inflamed country at the time in Latin America after Brazil, according to a Reuters count.A total of 26,834 people have died to date.
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