Economy | Peru | Political | dark red | Comment

The latest INEI report on GDP for May suggests we could be in the red for a second consecutive quarter, technically setting up a recession.

MIRE: Maurizio Fernandini no longer has access to a reduced sentence

As Juan Carlos Onetti says, authorities at all three levels of government have a collective responsibility for not being able to respond in time to climate events and political crises, and not instilling confidence among investors, in driving the economy into a feared hell.

After the first threats of a recurring event on our coasts like El Nino Costero, we have seen municipalities and governors act with alarming inertia. Apart from that, there is also the poor sanitary management of the dengue epidemic – which incidentally affects the recovery of tourism in the affected areas – which is of direct concern to the administrator. Or mayors who violate the country’s image and legal stability by abrogating concession agreements protected by international norms.

Between one and the other, PCM is more concerned with washing the face of the government abroad than building trust and attracting capital.

Populist demagoguery, treasonous extremism – the politicians who have not given up on Peru’s agony and who hide behind the image of coup leader Pedro Castillo are certainly responsible for implementing their stagnant approaches to reversing the economic trajectory that took the country backwards until a few years ago.

The big challenge now is to survive the second half of the year, avoiding a setback of greater depth. The ball is basically in the court of the executive, who needs to implement urgent reforms in various sectors of production so as to instill non-existent confidence among the big, medium and small businessmen.

Of course, the firm support of the Congress would be especially desirable, which should legislate for all Peruvians, today and tomorrow Peru, and stop the cheap populism (new holidays, withdrawal of the AFP) or actions that destroy the institution of education (solar godfathers and legalism and reaction to freedom), which is legal.

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