Peru's GDP likely to have grown 2% in Jul & Aug 2017

Centro Financiero. Foto: ANDINA/ Carlos Lezama

Centro Financiero. Foto: ANDINA/ Carlos Lezama

18:11 | Lima, Sep. 12.

Peruvian economy may have increased 2% in July and August this year, Economy and Finance Ministry (MEF) projected on Tuesday.

According to MEF Head Fernando Zavala, the Andean country's growth pace is expected to speed up over the next months.

Speaking at Congress Budget Commission, Zavala informed that leading investment indicators are sitting in positive territory, thus inducing a recovery in private investment and —therefore— increasing GDP.

"Leading investment indicators like those of domestic cement consumption have been in positive territory for a few months. Plus, capital goods are on the positive side, too," he underlined.

According to the also Cabinet chief, imports have experienced significant growth between July and August, especially those in mining (87%), services (12%), manufacture (11%), and trade (8.8%) sectors.

"Those indicators reflect our positive growth prospects," he added.

Days ago, Zavala projected a 2.8% GDP expansion for 2017, and a 4% base growth for 2018.

The affirmation was supported by the Multiannual Macroeconomic Framework (MMM) 2018-2021.


Published: 9/12/2017