Javier Portocarrero: “Family income is 10-15% below pre-pandemic levels”

Economist Javier PortocarreroExecutive Director Consortium for Economic and Social Research (CIES)noted that although several figures mentioned by President Pedro Castillo in his 28 July State of the Nation message are correct, they also fit the set of data “that best fit his speech”.

In this sense, he pointed out that while employment did increase in recent months, this recovery “has been heavily skewed towards informal employment.”

“Towards Cachuelo, not towards quality jobs. The formal sector has also grown, but primarily the informal one, even in the formal sector there has been a deterioration in wages,” he said. An approach on Saturdays from RPP News.

“Now family income is 10-15% lower than pre-pandemicThis is the central issue,” he said.

portocarrero He recalled that due to the restrictions of the COVID-19 pandemic, poverty in Peru has increased to 30%, and today, after the opening of various sectors of the economy, it has decreased to only 26%. which contains about 1 million 400 thousand Peruvians in poverty in fell after the economy closed.

The economist said Peru could grow up to 5% a year, but economic forecasts show that only half will grow “with a downward bias.”

“With this growth, poverty will not decrease in the coming years. It will take more than a decade to return to pre-pandemic levels,” he said.

Message from Pedro Castillo with no surprises

Director CIES regretted that the speech Peter’s castle before Congress suffered from positive economic surprises.

However, he said that it is never too late to change, and in this regard, he called on the head of state to listen to academia and civil society and make a “turn towards a policy that eliminates uncertainty.”

He pointed out that the president should look for programmatic alliances, not “with individuals to exchange favors.” Look for centre-left political coalitions that spirit his government’s proposals, but “on the basis of a substantive program” of the economic order that had allowed Peru to grow over the past 30 years.

“I think hePeter’s castle) comes from the trade union world, where he is accustomed to negotiating on the basis of very short-term agreements, sometimes for the sake of private […] And How in he himself admitted that he was not ready to govern; This is a huge but fixable shortcoming if you learn to listen,” he said.

In this sense, portocarrero He said Castillo should call on the dialogue-oriented prime minister with the political leadership.

“When he starts a message (to the nation), he starts a confrontation by attacking the press and the private sector; it is politically unnecessary, it shows an inability to govern politically. And if he doesn’t have governance, he should look to the first minister for what he has, and leave extreme radicalism aside,” he commented.