According to the Getúlio Vargas Foundation of Brazil, Peru is the fourth country in the region with the best business climate.

Similarly, the business climate in Latin America recorded its best level since the end of 2021 over the first three months of the year.

Peru ranks fourth among countries in the region with the best business climate in the first quarter of 2023, according to Brazil’s Getúlio Vargas Foundation (FGV).

The Economic Sentiment Index (ECI) for Latin America was compiled from surveys of 143 experts from 15 countries.

Latin America

Paraguay continues to dominate the list of countries in the region with the best business climate, since its indicator rose from 114.7 points to 162.3 points, thanks to the fact that the country has begun to recover from “the serious drought which caused it to lose exports to Russia.”

In second place, Uruguay was with 99.3 points, followed by Mexico (89.8 points), Peru (89.6 points), Ecuador (79.1 points) and Brazil ( 73.5 points).

Colombia’s indicator fell from 137.6 points in the last quarter of 2021, when progressive Gustavo Petro was elected president, to 53.5 points in the first quarter of 2023.

Chile (35.7 points), Argentina (35.3 points) and Bolivia (32.1 points) continue on the list, with very low indicators. The Venezuela indicator ceased to be measured several months ago due to the situation in that country.

improvement in the area

In the first quarter of 2023, the business climate in Latin America recorded its best level since the last quarter of 2021, according to the foundation.

“The economic climate index rose by 6.9 units in the last quarter, reaching 73.4 points,” the Brazilian body said.

The ICE is 3.5 points below its average for the past ten years (76.9 points), but it represents its best level since the end of 2021 (80.6 points).

“The rise in the indicator is due to both the improved perception of the current situation and the outlook for the next six months, which reached 70.1 points, their best level of last year”, says the foundation in its press release.

GDP

The study takes into account GDP forecasts for 2023, which are mostly below 3%, “which is worrying for a developing region with limitations in terms of physical infrastructure and social development indicators” .

In the last quarter, only the GDP growth prospects of Paraguay (4.6%), Mexico (1.7%) and Argentina (1.2%) improved; while they worsened in Chile (-1.8%), Colombia (1.1%), Brazil (1.1%), Bolivia (3.4%), Peru (2.5 %), Uruguay (2.4%) and Ecuador (2.4%).