Andina

Peru's GDP to grow 4% in 2018

COP20 Centro Financiero Lima San Isidro Surco

COP20 Centro Financiero Lima San Isidro Surco

00:10 | Arequipa (Arequipa region), Sep. 21.

Peru's Gross Domestic Product will expand 4% in 2018 supported by greater infrastructure works, Economy and Finance Minister Claudia Cooper forecast Wednesday.

Said projects are part of the Reconstruction with Changes Plan and the 2019 Pan American Games, which are expected to contribute 0.8 percentage points to next year's GDP.

During her speech at Perumin 33rd Mining Convention, the cabinet member affirmed this projection is in line with forecasts by economic analysts and Central Reserve Bank (BCR).

"We will speed up the 2.8% growth rate for 2017 to 4% for 2018," the minister pointed out.

Public Investment

According to Cooper, her portfolio's objective is for public investment to grow 17% next year.

"We are betting on public [investment] boost for 2018. However, we know that our country does not have the fiscal capacity to maintain growth based on public investment," she expressed.

Private Investment

Likewise, the government official underlined 2018 will see a rebound in private investment.

The recently-sworn-in minister also noted the Kuczynski administration will implement an aggressive infrastructure plan by overhauling Peru's State-run Private Investment Promotion Agency (ProInversion) in a bid to invigorate this sector.

(END) CAN/MDV/JAA/MVB

Published: 9/21/2017