The economic growth of 3.96% registered in Peru last November (2015) will generate confidence to expand by 4% in 2016, mainly underpinned by mining sector’s progress, Economic Studies Department Manager at Peru’s Central Bank (BCR) Adrian Armas affirmed.
"According to the last BCR's Inflation Report, we project a 4% expansion boosted by primary sector's growth," he said.
According to Armas, confidence will be recovered again once such rates are witnessed on the market and any unfavorable international situation does not occur.
MiningThe BCR official affirmed the mining sector is expected to experience a two-digit increase in 2016.
"In 2015, mining sector's expansion stood at 13.5% […]," he underlined.
Several projects, which kicked off in the second half of 2015, will continue to increase production this year, he projected.
Public Investment
The BCR official is confident public investment by sub-national governments (regional and local) will see a recovery following a 30% decline recorded in 2015.
"Primary sector and public investment have both experienced recovery. We should now focus on business confidence, see private investment starts to increase again," he added.
On the other hand, the BCR manager ruled out the recent reference interest rate hike could stop Peruvian economy growth.
(END) CNA/JCC/HMC/MVB
Published: 1/17/2016