This rate is similar to the one projected by the same organization last month.
"Our panel forecasts GDP expanding 3.9% in 2018, which is unchanged from last month, and expects growth of 3.8% in 2019," it noted.
According to FocusEconomics' analysts, economic activity should gain steam next year, thanks to greater mining
production, supportive fiscal
and monetary policies, plus stronger private consumption growth.
However, the economy remains exposed to volatility in global commodity prices.
Economic growth appears to have firmed up in the third quarter, on the back of a recovery in the construction
sectors. Economic activity sped up in August, benefiting from strengthening external demand, especially for metal exports
The construction sector also contributed notably to the acceleration, supported by the scaling up of public infrastructure spending, which had disappointed in the first half of the year.
According to preliminary data released by the Statistical Institute, the same trend continued in September: The mining sector
expanded on buoyant overseas orders and the construction sector recorded the fourth consecutive month of expansion.
Moreover, business and consumer sentiment are improving, carried by the upturn in economic conditions.
"Together with October data signaling another month of strong annual growth in public infrastructure spending, this bodes well for growth in Q4," it also forecast.