Mining activity will contribute eight percentage points to over the next 10 year accumulated GDP growth, which will enable to count on more fiscal resources and reduce poverty, Peru's Central Reserve Bank (BCR) President Julio Velarde projected.
"Mining will be essential for the [economic] growth to be registered in the upcoming years," the official told.
During his presentation at Perumin-32nd Mining Convention, he suggested Peru must dismiss myths, which affect mining activity and also boost the country's productive sectors.
The BCR governor said primary activities yield, such as mining's, accounts for a considerable share of developed countries' exports. With this regard, he mentioned Norway, Canada and Australia.
"Before the second World War started, Norway was poorer than Portugal. Nowadays, it, along with Switzerland and Luxembourg, is Europe's richest country. 33% of its exports come from the primary sector," the official noted.
"Those three countries have the world’s highest per capita GDPs: Norway, US$65,000; Canada and Australia, US$45,000," he added.
Copper
On the other hand, the international copper price might pick up in 2017. This would help to increase fiscal resources, taking into account that copper is Peru’s top exported product, the BCR official estimated.
"Probably in 2016 [copper price] might start to revert the decrease [...]," he told.
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