Andina

Peru economy likely to have grown 2.5% in 2017

15:25 | Lima, Jan. 30.

Peruvian economy may have expanded 2.5% last year, mainly underpinned by domestic demand, which gained momentum in the second half of 2017, Economy and Finance Minister Claudia Cooper projected Tuesday.

"Nowadays, the country is growing based on domestic demand, namely public and private investment," the cabinet member told RPP local news station.  

"We [Peru's GDP] may have grown 2.5% in 2017," she added.  

Within this context, Cooper stressed public investment registers significant progress, and the physical development of works —which is a key indicator on this matter— grows at a rate of 19% in real terms.

It must be noted domestic cement consumption increases at a rate of 8.7%, and consumer credit expands at 9%.

Likewise, the government official noted the country's GDP had grown in recent years boosted by primary sectors, as a result of previous investments in the mining industry. Yet, it is now driven by domestic demand.

Lastly, she pointed out Peruvian GDP could have expanded beyond 2.5%. However, corruption scandals and Coastal El Niño phenomenon were the dramatic factors that led to such projection.

(END) RGP/RGP/JAA/MVB


Published: 1/30/2018