Biggest GDP drop for Peru in decades due to lockdown

It comes after 22 years of uninterrupted economic growth, according to the National Institute of Statistics and Informatics (INEI), and decades of better GDP figures than the Latin American average.

RIO DE JANEIRO, BRAZIL - (AFP) Peru's economy shrank in 2020 by its biggest margin in three decades on the back of a months-long lockdown to try to contain the coronavirus outbreak, the government said Monday, February 15th.

The GDP drop of 11.12 percent was smaller than predicted by Peru's central bank, but the largest decline since 1989 when the economy contracted by 13.4 percent at a time of hyperinflation and guerrilla warfare.

It comes after 22 years of uninterrupted economic growth, according to the National Institute of Statistics and Informatics (INEI), and decades of better . . .

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