Central Reserve Bank (BCR) Governor Julio Velarde on Friday estimated Peru's public investment will expand 9.6% in 2017 and 16.4% in 2018.
Said rates are higher than those projected in BCR's September 2017 Inflation Report (7% and 15%, respectively).
During his participation in the Seminar titled
Capital Markets, Banking & Finance Day 2017, he explained said upward revision responds to the strong momentum witnessed in public spending during September and October.
"Public investment —in its three levels— expanded 21% last September, and if public companies' figures are added up, said rate may reach 24%," Velarde said.
"Public investment has expanded almost 29% so far in October," he added.
According to Velarde, September's positive results also contributed to the
construction sector's expansion, thus leading to see a growth rate of close to 9%.
Private investment
On the other hand, the BCR Head stressed that private investment went up 7.8% last July and August.
Likewise, he added that non-mining investment experienced a growth of over 6% in the said period, whereas mining investment climbed 22%, "mainly driven by exploration investments."
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