ABSTRACT
Peru has one of the fastest growing Latin American economies and it is one of the seven least poor countries in Latin America (ECLAC, 2015). With an average 6.1 percent gross domestic product (GDP) growth between 2005 and 2014, it has managed to cut its poverty rate from 55.6 percent in 2005 to 22.7 percent in 2013 (World Bank, 2015) through sound macro - economic and fiscal policies in a context of favorable global commodity prices.
