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Peru’s former president Alan Garcia talks to supporters during a meeting in Lima.

Garcia promises 6% growth if elected


Reuters/Lima

Peru’s former president Alan Garcia kicked off his campaign for a third term with a promise to deliver economic growth of at least 6% per year through more public works and mining investments.
Garcia, a towering figure known as a one of the Spanish-speaking world’s best orators, told his supporters in a sports stadium it would be easy to achieve such high growth rates, even as a commodities slump has knocked Peru’s key mineral exports and dragged on growth during President Ollanta Humala’s administration.
The economy slowed sharply to 2.34% growth in 2014 - less than half the rate in previous years - but it is on track to recover slightly this year.
Garcia, who is trailing third in polls, said he would slash red tape, build 200,000 public works with the help of local governments and encourage mining investments if he won a new term in elections scheduled for April next year.
“It’d be enough to repeal everything that this government has signed to put Peru back on track!” Garcia said in a rousing speech that emphasised hope and a return to better days. “We’re going to give the people back the happiness they deserve”.
Supporters waved Peruvian flags and danced to the cumbia beat of his campaign jingle, which repeated a chorus of “Alan, Peru!”
Garcia last governed Peru in 2006-11, when mineral prices soared and Peru’s annual economic growth rate reached 9%.
Peru is the world’s third biggest copper, silver, zinc and tin producer and seventh-ranked in gold. Mining makes up about 60% of its export earnings.
Garcia said he would ease opposition to mining projects in poor Andean regions by transferring royalties directly to nearby communities.
Protests have derailed two major mining projects in recent years, holding up a combined investment of about $6bn. Garcia said the lack of immediate benefits for communities had driven the opposition, even though protesters cited fears mining would ruin their environment.


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