So far this year, economic activity has shown a differentiated recovery among economic sectors.
Those that were most affected by the protests and rains last summer, such as fishing, tourism, mining and public investment, have registered a clear rebound in their activity levels. These sectors, with the exception of mining, showed double-digit growth rates. However, other sectors more closely linked to household spending, such as home centers and department stores, have not yet shown significant improvements, as they registered drops in the first quarter of 13.5% and 4%, respectively.
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Partner and Principal Economist
Last week, Congress removed Energy and Mines Minister Rómulo Mucho from office with 80 votes in favor, 4 against, and 10 abstentions. Of the 13 parliamentary groups in Congress, 11 supported the motion.
In the third quarter of 2024, the economy showed a more pronounced recovery. During the quarter, a series of indicators linked to local demand recorded a better performance than in the first half.
A distinctive feature of the Boluarte government has been its tendency to give in to pressure from protest groups with the capacity to mobilize.
