Virus-hit Peru GDP plummets 40 percent
16 June, 2020
Peru, one of the countries worst reach by the coronavirus pandemic, has seen gross domestic product (GDP) plummet by a lot more than 40 percent year on time in April, the federal government said Monday.
Mining production fell sharply in one of the world's major producers of copper, silver and gold, contracting by a lot more than 42.29 percent in April.
Overall economical activity fell 40.49 percent, the national statistics institute stated.
The sharp fall in April "reflects the underperformance of all productive sectors, with an impact on trade, production, construction, mining, hydrocarbons, transportation, accommodations and business services," it said.
The Peruvian economy, among the strongest in Latin America during the last 10 years, had already contracted more than 16 percent in March.
Before March, the Andean country registered 127 months of consecutive growth.
Despite a lockdown set up since March 16, Peru is the second worst-hit country in Latin America after Brazil, with practically 230,000 cases and nearly 7,000 deaths from COVID-19.
The centrist government of President Martin Vizcarra rolled out a number of economic methods including an aid package to more than 6.5 million homes.
However, Vizcarra was later on forced to extend the existing quarantine until June 30, making Peru's among the world's longest lockdowns.
Source: www.thejakartapost.com
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