Peru's economy to begin recovery from coronavirus in second half of year -official

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LIMA — Peru’s economy will begin to recover in the second half of the year as an unprecedented economic stimulus plan is implemented to counter the impact of the coronavirus outbreak, a government official said on Monday.

In a virtual news conference, Alex Contreras, director general of macroeconomic policy for the Ministry of Economy and Finance, said the economic progress of Peru, the world’s second- largest copper producer, would depend on the success of its strategy against the coronavirus.

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“We are convinced that a rapid recovery will be generated, particularly from the third and fourth quarters,” Contreras said, without offering more details.

Peru has 2,561 coronavirus cases and 92 deaths.

The government previously announced the launch of an economic stimulus equivalent to 12% of its national production to combat the economic impact of the respiratory disease.

(Reporting by Marco Aquino; Writing by Cassandra Garrison; Editing by Peter Cooney)