Peru’s economic growth recovery will start on the second quarter of 2015, and it will register the “largest” expansion in Latin America this current year, forecasted the International Monetary Fund (IMF) Resident Representative for Peru and Paraguay, Alejandro Santos.
“We agree there will be an upturn in Peru's economic growth, and it will be the largest in the region,” he affirmed.
After 2014’s low 2.35%-registered-expansion, it is projected there will be an “upturn” this year.
“It will be higher than the one [registered] in 2014,” he told.
In this sense, the rebound will start during the second quarter of this year, he forecasted.
“We have information [affirming] the first quarter will not be as dynamic as it had been expected, which means the upturn will be concretized by the second quarter [of the year],” he explained.
In in order to learn the country's new growth-related-cypher for 2015, an IMF mission will arrive in Lima, in order to carry out an reassessment.
“Soon, an IMF mission arriving [in Peru] will conduct the reassessment of all the economic projections, and it will be in charge of providing the end rate for the year,” he indicated.
Fiscal and Monetary stimuli
Santos also affirmed the growth will be based on the monetary policy stimuli and external factors, as well.
“Last year, problems emerged due to specific issues: In fishing, due to climatologic conditions; or in mining, due to logistics-related affairs. [Therefore] the expected growth rate could not be achieved. However, that supply shock will be reversed,” he told.
Likewise, stimuli in the monetary policy and in expenditure will lead to a better growth, it was told.
“There are stimuli in the monetary policy, which have turned it into more flexible one, by lowering the Central Bank reference rates and decreasing the reserve requirements for deposits in domestic currency,” he pointed out.
(END) ESV/JJN/MVB
Published: 2/26/2015