The upcoming start up of large-scale infrastructure projects are expected to further stimulate private investment in Peru over the year's four quarter (Q4-2014), according to Peru-based bank Scotiabank.
Pablo Nano, chief of real economy at Scotiabank’s Department of Economic Studies, stated the ongoing moderate growth of the nation’s economic activity and its positive prospects over the short- and mid- run have been fully internalized by economic agents.
“This situation is reflected in the business expectations regarding the outlook of the next 12-month period which are more optimistic than those related to the next three-month period,” he said in statements to Andina news agency.
Furthermore, Scotiabank’s foremost economist analyst went on to underline that index continue to indicate that we can expect growth in the Peruvian economy to remain within the trend revealed in July.
“An improved outcome in the expansion of the Gross Domestic Product (GDP) of August would be on the back of a production increase in the country’s primary sector, mainly in the core activity of mining,” Nano noted.
Meanwhile, Peru’s recently appointed Economy and Finance Minister, Alonso Segura, coincided with Scotiabank’s forecast for the country’s GDP for the quarter ended December.
In this regard, the high-level Humala administration official stressed that the conditions are given to result in a strong economic pick-up by year-end.
“This, in part, by the start of construction of massive investment infrastructure projects awarded this year like the second line of Lima’s Metro network, among others,” Segura told reporters from Andina news agency.
(END) JJN/JJN/LOG
Published: 9/17/2014