LIMA, SEPTEMBER 21 2021 Julio Velarde: "There are sectors that have not benefited from mining, due to inefficiencies in public management"

The mining industry contributes 10% of the GDP, 60% of exports and has been fundamental in the performance of the economy in the last 20 years.

 

During his participation in the central event of Heading to PERUMIN - Bicentennial Edition, the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, pointed out that there are sectors of the population that have not benefited from the development of mining, and that this is due to a problem of public management.

From that perspective, Velarde pointed out that mining has generated significant income for the country and that it plays a leading role in the national economy. "The mining industry contributes 10% of the GDP, 60% of exports and has been fundamental in the performance of the economy in the last 20 years", explained Velarde.

He also specified that between 2000 and 2019, Peru has been the region that has seen the most growth in South America, at an average annual rate of 4.8%, which is double the rest of the region. "And this has been largely driven by investment in mining," said the BCRP president.

However, Velarde regretted that despite this economic contribution, there are sectors that to date have not received the benefits of the industry, which is evidenced in the lack of health and judicial services. "It is necessary to improve public services, but there are regulations that hinder public investment. There are also inefficiencies in management and a lack of leadership", explained the head of the BCRP.

Velarde highlighted the need to establish approaches that encourage sustained economic growth , promoted by the market and with the support of the State. He also suggested replicating models from countries such as Australia, Norway, Canada and New Zealand, which have consolidated their economies by taking advantage of their natural resources.

Newsletter PERUMIN 35

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