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Peru: Private investment to expand 0.3% in 3Q 2017

COP20 Centro Financiero Lima San Isidro Surco

COP20 Centro Financiero Lima San Isidro Surco

08:30 | Lima, Sep. 7.

Peru's private investment will rise 0.3% in the third quarter of 2017, thus ending 14 consecutive quarters of decline, Central Reserve Bank (BCR) Governor Julio Velarde projected.

Likewise, it will grow 0.8% during the last three months of the current year.

Velarde also noted the previous 14 quarters of decrease were partly due to business confidence decline, influenced by the same factors that had affected public investment, along with political noise.

Mining investment

Likewise, the BCR Governor said that mining sector saw increases in investment and exploration activities during the second quarter of 2017.

"The recent mining investment recovery led to greater dynamism in terms of exploration thanks to mineral prices increase," he added.

According to BCR, the factors that will boost investments in the second half of 2017 are:

Recovery from Coastal El Niño impacts.
Reconstruction expenditure.
Unlocking of large infrastructure investment projects.
Private investment recovery.

(END) JJN/JJN/JAA/MVB

Published: 9/7/2017