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IMF Country Report No. 24/134
PERU
SELECTED ISSUES
May 2024
This paper on Peru was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on May 2, 2024.
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© 2024 International Monetary Fund
Title page
PERU
SELECTED ISSUES
May 2, 2024
Approved By
Western Hemisphere Department
Prepared by Zamid Aligishiev, Moya Chin, Daria Kolpakova, Dmitry Vasilyev (all WHD) and Brooks Evans (FAD).
Contents
PRODUCTIVITY AND GROWTH IN PERU
A. Macro-Level Measures of Potential Output
B. Measuring Productivity Using Firm-Level Data
References
FIGURES
1. Actual and Potential GDP Growth
2. Growth Decomposition
3. Firm-Level Total Factor Productivity Growth
4. Profit-Sharing Regulation
5. Régimen Especial del Impuesto de la Renta
ECONOMIC BENEFITS OF BUILDING RESILIENCE TO NATURAL HAZARDS AND CLIMATE CHANGE
A. Physical Risks and Policy Gaps
B. Estimating the Impact of El Niño on Economic Activity
C. Measuring Economic Benefits of Building Resilience and Adapting to Climate Change
References
TABLE
1. Cumulative Discounted Fiscal Savings from Investment in Resilience and Adaptation
FIGURES
1. Natural Disaster Profile and El Niño
2. Climate Change Risks
3. Remaining Adaptation Needs
4. Change in Inflation Indicators Following El Niño Shock
5. Change in Sectoral Output and Primary Balance Following an El Niño Shock
6. Potential Output Losses and Climate Change
7. Potential Output Gains from Building Resilience and Adapting to Climate Change
8. Fiscal Savings from Building Resilience and Adapting To Climate Change
PRODUCTIVITY, DIGITALIZATION, AND ARTIFICIAL INTELLIGENCE IN PERU
A. Technology Diffusion and Access to Digital Services
B. Artificial Intelligence
C. Advancements in FinTech and GovTech
References
FIGURES
1. The Diffusion of Information Technology and Access to the Internet
2. Labor Force Complementarity and Exposure to AI
3. Growth Simulations
4. Labor Force Complementarity and Exposure to AI by Sector
5. Competition and Financial Inclusion