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Multi-dimensional Review of Peru

Volume 3. From Analysis to Action

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Peru has experienced remarkable socio-economic progress over the last two decades, enabling it to join the group of upper middle-income countries around 2010. However, challenges are ahead if the country is not to be caught in various development traps. Overcoming these challenges in the near future to take the economy to the next level and become a country with higher productivity, inclusive development and well-being for all will require sound policy reforms. Further efforts are needed on three main fronts: economic diversification, connectivity and formalisation of jobs. This report analyses the main challenges in these three priority areas and sets up a policy action plan. It also proposes a scorecard including a series of indicators for monitoring progress derived from the implementation of the reforms proposed in these three areas and presents the objectives for each indicator that Peru should aim to achieve by 2025 and 2030.

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Plan of action to become a high-income economy with greater well-being for all

Engaging in sound policy reforms to achieve the high-income level with greater well-being for all is the next step in Peru’s development path. The country has already achieved substantial socioeconomic gains in the last few decades, including the development of a resilient and attractive economy and a sizable middle-class. Further efforts are needed on three main fronts: economic diversification, connectivity and formalisation of jobs. This chapter sets up the policy action plan in these three priority areas. This is based on the recommendations presented in Volume 2 of the MDCR of Peru, and adds to the results of the workshops held in Lima with various stakeholders in the country, including civil society, private sector, academics and public authorities. It also includes the expected results of such reforms, detailed actions for implementation, and their degree of priority.

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