Peru's Economy and Finance Ministry forecasts place June GDP growth at 3.6%, which would in turn result in a 2.4% GDP rise in the second quarter of 2017, Minister Fernando Zavala affirmed on Monday.
"We expect a 3.6% GDP [growth reading] in June. This would be one of the most relevant results this year, leading to a 2.4% expansion in the second quarter [of 2017]," the government official projected.
Zavala, who concurrently serves as Prime Minister, underlined Peru's primary sector GDP increased 8.6% in June, whereas that of non-primary activities rose 2%.
Said results were underpinned by favorable international economic prospects, as well as by greater
business and consumer
confidence which contribute to investors' appetite and commodity prices.
In this sense, the Finance head anticipated better metal prices would facilitate a series of much-anticipated decisions in terms of
mining exploration and
investment.
Public spending
In addition, Minister Zavala noted government investment and expenditure bounced back in June and July, with construction investment growing 10% and public investment —in general— scaling up by 4.7%.
Similarly, the transport sector recorded double-digit growth rates, whereas housing saw "more resources allocated to water and sanitation [projects] than in previous years," Zavala concluded.
(END) CNA/CNA/DHT/MVB