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BMI View: The Peruvian economy, which largely depends on natural resources,
is bound to have another weak year in 2016. As the country prepares for the runoff of the presidential
election, no structural economic changes are set to take place as the long-term political prospects
remain unclear. The retail sector will continue to develop, however, as modern shopping centre retail space
Key Views & Developments
■ Keiko Fujimori - the daughter of ex-president Alberto Fujimori, who is
currently in jail for widespread corruption crimes - won the first round of the presidential elections in April
and is headed for a runoff against Pedro Pablo Kuczynski in June. Tackling crime and promoting a free
market economy are the key topics in Fujimori's agenda.
■ Peru's pharmacy market is consolidating rapidly as a result of Quicorp
acquiring 47 pharmacies from Cencosud in February and taking over the Arcangel network of 350 stores from
Albis in March. This brings the number of pharmacies owned by the group to 1,000, making it the
largest network nationally.