Andina

CAF: Peru has potential to post higher growth rates


12:32 | Lima, Feb. 5.

Peruvian economy will expand 3.7% in 2018. However, the country may get better results if it takes major economic partners' recovery into account, Development Bank of Latin America (CAF) projected Monday.

According to CAF Director Representative in Peru Eleonora Silva, "countries like Peru may have a great opportunity to expand and exceed expectations this year." 

Silva stressed the most dynamic sectors this year will be mining and agro-industry, as well as infrastructure, which will be boosted by public and private investments.

She went on to say the mining sector plays an important role in export performance, due to the rise in metal prices, mainly that of copper and nickel.

On the other hand, the CAF representative noted significant progress in agro-exports.

"The export basket includes relatively new products, such as blueberries [...]. Avocados, asparagus, artichokes, and grapes, among others, have a strong presence in the international market as well," she pointed out.

Regarding public investment, Silva announced there are great expectations surrounding the country's reconstruction process.

Lastly, she noted services exports constitute a major pending task for Peru. 

"This country has capabilities and a young population in which services exports have a great unexploited potential," she concluded.

It is worth mentioning CAF will finance Peru-based projects worth US$2.38 billion in 2018.

(END) DOP/MDV/JAA/RMB

Published: 2/5/2018