Despite the current unfavorable international situation characterized by low commodities prices, Peru's GDP will expand over 4% in the first quarter of 2016, Finance Minister Alonso Segura estimated on Thursday.
"It's a bit early to present figures, but economic expansion should stand above 4% in the first quarter [of 2016], a positive rate within the current international economic context [...]," Segura projected.
"In general, growth [in 2016] should stand at close to 4%," the government official affirmed.
In this sense, the official noted growth is higher than economic expansions forecasted for Pacific Alliance member countries: Colombia and Mexico, both with 2.5%, as well as Chile, with 1.5%.
"Peru is the only economy that has been and is accelerating. International Monetary Fund (IMF) projections prove it [...]," Segura stressed.
"However, we must acknowledge Latin America’s environment is complex, and we must continue working therefore," he suggested.
As is known, IMF raised its 2016 growth forecast for Peru from 3.3% to 3.7%. Moreover, the entity also revised its GDP growth estimate for 2017 from 3.6% to 4.1%.
Growth
According to Segura, the national economy is expected to grow by close to 4% in 2016, and nearly 5% in 2017.
"I think this is the reason for Peruvian citizens' optimism. We are leaving everything in order, in macroeconomic terms, and on the right path, in terms of growth," he stated.
(END) JCC/JJN/HMC/MVB
Published: 4/28/2016