Editing Economy of Peru (section)

===Greater depth===
[[File:Bolsa de Valores, Lima, Perú, 2015-07-28, DD 101.JPG|thumb|The [[Lima Stock Exchange]]]]
From 1994 through 1998, under the government of Alberto Fujimori, the economy recorded robust growth driven by foreign direct investment, almost 46% of which was related to the privatization program. The government invested heavily on the country's infrastructure, which became a solid foundation for the future of the Peruvian economy.{{Citation needed|date=April 2008}} The economy stagnated from 1998 through 2001, the result of the century's strongest [[El Niño]] weather phenomenon, global financial turmoil, political instability, a stalled privatization program, increased government intervention in markets{{Citation needed|date=April 2008}}, and worsening terms of trade. President [[Alejandro Toledo]] implemented a recovery program after taking office, maintained largely orthodox economic policies, and took measures to attract investment, including restarting the privatization program. Nonetheless, political uncertainty led to GDP growth of 0.2% in 2001.{{Citation needed|date=April 2008}} The Lima Stock Exchange general index fell 34.5% in 2000 and 0.2% in 2001.{{Citation needed|date=April 2008}} Inflation remained at record lows, registering 3.7% in 2000.{{Citation needed|date=April 2008}}

The year 2001 saw [[Deflation (economics)|deflation]] of 0.1%. The government's overall budget deficit rose sharply in 1999 and 2000 to 3.2% of GDP, the result of hikes in government salaries, expenditures related to the 2000 election campaign, higher foreign debt service payments, and lower tax revenues.{{Citation needed|date=April 2008}} The government brought the deficit down to 2.5% of GDP in 2001, and set a target of 1.9% of GDP for 2002. Peru's stability brought about a substantial reduction in [[underemployment]], from an average of 74% from the late 1980s through 1994 to 43% in the 1995–96 period, but the rates began climbing again in 1997–2002 to over half the working population. The poverty rate remained at 54% in 2001, with 24% of Peruvians living in extreme poverty. In 2005, 18% of Peruvians were living in extreme poverty and a poverty rate at 39%.<ref>{{cite web|url=http://www.elcomercio.com.pe/ediciononline/HTML/2008-05-27/alan-Garcia-2015-pobreza-reducira-menos-10.html|title=El Comercio Perú : página no encontrada|access-date=11 June 2015|archive-url=https://web.archive.org/web/20080815020434/http://www.elcomercio.com.pe/ediciononline/HTML/2008-05-27/alan-garcia-2015-pobreza-reducira-menos-10.html|archive-date=15 August 2008|url-status=dead}}</ref> As of 2010, around 30% of its total population is poor.<ref name="larepublica.pe">{{cite web|url=http://www.larepublica.pe/11-01-2011/pobreza-se-redujo-30-en-el-2010-0|title=Pobreza se redujo a 30% en el 2010|work=larepublica.pe|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150513214151/http://www.larepublica.pe/11-01-2011/pobreza-se-redujo-30-en-el-2010-0|archive-date=13 May 2015|url-status=dead}}</ref>