Peru's non-primary manufacturing sector will grow 3.6% in 2017, considering the positive performance projected for the last quarter of the year, Production Minister Pedro Olaechea estimated Friday.
"According to Central Reserve Bank of Peru, the annual growth projection [for the non-primary manufacturing sector this year] is 3.6%, and we agree with that," the government official said.
Olaechea underlined the non-primary
manufacturing sector will see a positive growth during the last quarter of 2017.
Remarks were made following his participation at "APEC Forum: Global and Local Policies and Economic Instruments for Building Stakeholder' Capacities in Clusters' Promotion."
"The non-primary manufacturing [sector] relies heavily on
consumption. Peruvians are realizing things are moving forward and that there’s production despite difficulties," he expressed.
Investment
Likewise, the cabinet member underscored the aforementioned sector's expansion will be mostly underpinned by an increase in
investment.
"Mineral prices in the short-term will only cause the US dollar to depreciate, thus improving machinery and capital goods imports," Olaechea noted.
"However, the country's development will not depend on minerals, but on investment," he concluded.
(END) CAN/JJN/JAA/RMB
Published: 11/17/2017