Sustained development of infrastructure projects is likely to become the new engine of growth, which impact on the economy will be observed in the short term, said Juan Lorenzo Maldonado, an economist at Credit Suisse.
“There is a quite interesting portfolio of projects the government has not yet completed, which is a great opportunity to boost Peru’s economic growth in the following years,” the economist was quoted as saying by Andina news agency.
He went on to add that the works will help forge new engines to propel the country’s economic expansion, as recommended by the International Monetary Fund (IMF) during the recently held Meetings of the Boards of Governors in Lima.
Maldonado stressed that developing projects through Public Private Partnerships (APP) is a great way to help close the infrastructure gap as well.
“It is essential to speed up the implementation of the so called megaprojects. That could be an interesting engine for the next years,” he said.
Nevertheless, he said mining would remain one of the economy key sectors in the following years.
“Mining sector will continue to steer the economy towards greater dynamism as new projects enter the production stage,” Maldonado pointed out.
On the other hand, he said the economic growth is set to accelerate in the last quarter of the year.
A slight recovery in production, manufacturing and construction is expected for the last three months of the year.
(END) SDD/JJN/RMB/MVB
Published: 10/14/2015