Public investment in Peru would see sustained growth starting in May driven by post-disaster reconstruction works, the Economy and Finance Ministry projected on Tuesday.
"We expect public investment to bounce back as of May this year with coming investments in reconstruction […] of infrastructure damaged by Coastal El Niño [phenomenon] effects," the Ministry's Public Investment Director-General Gabriela Carrasco affirmed.
"Thus, we expect to reach [the government's 2017] public investment growth target of 18%," she added.
In this sense, the government official noted public investment could fall this month due to halted ventures.
"Public investment is unlikely to rebound in April, as most investments became paralyzed due to "Coastal El Niño" emergency and natural disasters," the official explained.
Public investment snapshot
Economy-Finance Ministry data places public investment execution at S/485.9 million (about US$149.83 million) in January this year.
Investments hiked to S/1.180 billion (about US$363.86 million) in February and further inched up to S/1.201 billion (about US$370.34 million) as at April 24.
Peru's public investment execution thus stands at S/4.998 billion (about US$1.540 billion) so far this year (as at April 24).
In quarterly terms, public investment execution dropped 0.8%.
Remarks were made during the seminar "Infrastructure and Investments," organized by private-run Foreign Trade Society (ComexPeru).
(END) MMG/JJN/DHT/MVB