Administrative divisions of Peru nation's capital, is located in this province.) Callao also is its own region, which contains only one province, the Constitutional Province of Callao. Administrative divisions of Peru The administrative divisions of Peru have changed from time to time, since the nation gained independence from Spain in the early 19th century. The old territorial subdivisions have split or merged due to several reasons, the most common ones being the need for decentralization, and population increase, especially in Lima. Peru was divided into 24 departments ("departamentos"; singular: "departamento") until the creation of the regions in 2002. These regions are governed by Regional
Economy of Peru Economy of Peru Peru is classified as "upper middle income" by the World Bank and is the 39th largest in the world by total GDP. Peru is one of the world's fastest-growing economies, with a 2012 GDP growth rate of 6.3%. It currently has a high human development index of 0.741 and per capita GDP above $12,000 by PPP. Neo-classical economists would interpret Peru's sound economic performance as a combination of: However, Post-Keynesian economists would argue that what neo-classical economics considers to be "prudent" fiscal spending is nothing more than a means to restrict government spending in order to make