Over the last decade Peru has consistently been the fastest-growing economy in Latin America, and unlike some of its neighbours, has been remarkably resilient to global headwinds, registering positive growth rates for an uninterrupted 18 years through to 2016. While the pace of growth has slowed as the long commodities boom ebbed after 2012, Peru recorded an average annual growth rate of 5.9% in 2005-15, almost double the 3% rate for Latin America as a whole. Stakeholders and investors will now be looking to efforts by the new government, which took office in July 2016, to address problems, implement additional reforms and spur further economic growth.