Waldo Mendoza: Today we are the same as in the last year of the reign of Alan Garcia

Level uncertainty what the country is going through is similar to what was recorded during the first government of Alan Garcia, former economy minister Waldo Mendoza assured.

Mendoza notes that this political uncertainty this makes the private entrepreneur feel unsafe to invest in the country, which means less progress in the economy.

“Today we are the same as we were last year under Alan Garcia in terms of uncertainty. Before that, there was hyperinflation, 40 percent monthly inflation, which made it difficult for businessmen to see the future. Now political uncertainty. Will Castillo remain president until 2026. “Will there be a trust issue, and if it continues, will it continue to do the same things that it has done so far?” he noted during his conference at CADE 2022.

The economist recalled that growth is necessary to improve welfare and reduce povertyand the way to do it is private investment.

“We have a duty to grow, and we know that private investment is the way to go. Therefore, we are doomed to increase private investment,” he added.

Mendoza commented that there is good news ahead as Peru could spark a boom in investments as was done with the mining industry and the export of agricultural products.

He added that thanks to the progress made to date, over the past 30 years, the state has been able to increase tax collection, which in turn has allowed for increased investment in education and health.

“However, we are still far from the ideal situation. Health and education indicators are basic determinants of human capital, but they are a disaster,” he said.