“...a recent drop in economic growth has Peru’s growing middle class concerned, and all eyes are on newly elected President Pedro Pablo Kuczynski...to keep the economy growing and continue the fight against poverty..”
Peru has demonstrated remarkable growth over recent years and has managed to become one of Latin America’s most successful economies despite its former identifiers of struggle and a national poverty rate of over 50%. The sustainability of that growth is questionable now, though, and the nation’s growing middle class has reasonable concerns. With the election of Pedro Pablo Kuczynski, or PPK, now the attention of the world and Peru itself is fixed in his direction. PPK’s background as an economist gives many hope, where others doubt. Despite poverty rates being cut in half over the last ten years, there are still 8 million Peruvians facing poverty, and 3.7 million of them living on less than $1.90 a day. This reality principally affects the indigenous communities of the Andean highlands, mostly the Aymara and Quechua people groups. As far as Kuczynski’s plans for addressing the issue, he has promised a decrease in taxes for small business as well as greater access to clean water for the 10 million Peruvians living without it. What’s more, it appears that a significant population of workers in the nation are facing vulnerability in the workforce, due to a lack of formal jobs. Such is an issue that PPK has proposed to better, in addition to raising the minimum wage. Whether or not he can accomplish such goals is questionable, as he faces an uphill battle with a Congress dominated by the Fuerza Popular (Popular Force) party, led by his former opponent Keiko Fujimori.