Investment bank Credit Suisse raised the projection of growth of Peru for 2016 from 5.4% to 5.6%. It is due infrastructure projects awarded by the government last year.
Those are intended to boost the economic activity throughout 2016.
The economist for Peru of investment bank Credit Suisse, Juan Lorenzo Maldonado, affirmed during 2014 ProInversión (Peru's Private Investment Promotion Agency) awarded important infrastructure projects to private contractors.
The total amount awarded last year surpassed the US$10,000 million. This represented 5% of the GDP, Maldonado indicated.
He also said among these infrastructure projects are Peru’s Southern Gas Pipeline, the International Airport of Cusco, the Line 2 of Lima's Metro, the initiatives for the Transmission Line and the infrastructure of ports and electricity.
"The timely application of these projects might add a considerable dynamism to economy leading to a higher impact in 2016," he added.
2015's GDP Projection
Additionally, he estimated Peru’s economy will register a 4.1% growth this year, accompanied by the monetary stimuli and tax incentive, as well as the domestic infrastructure, which could be an important source of growth in 2015.
"We expect the economy to grow by 5.6% in 2016. This is a growth slightly superior to previous prediction (5.4%), thanks to a lower base of comparison in 2015 and a most determined recovery of the mining sector," Maldonado said.
Mining sector is reactivated
According to INEI, the mining sector had a year-on-year growth of over 5% in January, 2015, the economist emphasized.
This could indicate this sector would have a stronger performance than in 2014 when it was reduced by 0.8%
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