The president of the National Federation of Commerce, José Alejandro Lossada, estimates a 20 % recovery in sales in the sector during the second half of 2023.

Lossada explained that in the first quarter there was a 15 % drop in sales, although positive figures have been recorded in recent months.

“In the first quarter there was a drop in sales from 15 % to 20 % (…) this second quarter we have data for a drop of 5 %. However, for the second half of the year we have a 20 % recovery perspective in terms of sales,” he said.

The representative of the commercial sector estimates that the recovery of wages in the private sector could boost sales for the second half of the year.

According to the president of the federation, this increase is due to a recovery in the salaries of some private companies in the country, where he estimates that the minimum wage has risen to approximately 200 dollars.

Lossada recognized the great challenges that merchants must face due to the high costs of public services in the country, especially in Caracas, where the water service went from $20 to $80 on average during 2023.

Taken from DobleLlave

(Reference image source: Nathália Rosa, Unsplash)

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The Minister of Economy and Finance, Alex Contreras, has indicated that he expects private investment to begin to recover from the second quarter of the year, noting that the Andean country has “impressive” poles of economic attraction such as the mining sector or the of the infrastructures.

During his speech at the CEO Luncheon, held within the framework of PDAC 2023 in Canada, which brought together executives from the mining sector from different parts of the world, the Government’s economic head expressed his wish that private investment be “a partner of the growth”.

To achieve this, Contreras has highlighted that the Government is improving the allocation and execution of the public budget in order to take advantage of the competitiveness and leadership of certain sectors.

“We are working on investment incentives, which is a key agenda, and we ask you to continue to trust Peru. The mining sector will be the great beneficiary of the energy transition, so investing in Peru is betting on the future “, he insisted.

Taking advantage of his trip, the minister has met with different investment funds, to whom he has informed them about the situation of the Peruvian economy and the prospects for development and growth.

Source: dpa

(Reference image source: Peruvian Government, Europa Press)

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