Peru’s Central Bank: Poverty Rate Could Drop to 17 Percent by 2016

The Central Bank estimates that Peru’s poverty rate will decline to 17 percent by 2016 if the country is able to maintain its current economic growth and the government implements policies to better redistribute resources.

In 2010, Peru’s poverty rate was 31.3 percent, compared to 43 percent in 2000, state news agency Andina reported.

“The results suggest that economic growth during the past decade could even be considered pro-poor, that is to say, the poor have benefited in relative terms to the economic growth,” the Central Bank said.

The bank said that it has also seen a better distribution of resources and a decrease in poverty.  Although there is still a dearth of health, education and water and sewage services throughout the country, the growing economy and increased access to markets and credit has allowed many micro and small to medium businesses to start up and expand.

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