Andina

Peru: Mining to drive private investment growth in 2018

Southern purcahses trucks for Tía María Project in Arequipa. Photo: ANDINA

Southern purcahses trucks for Tía María Project in Arequipa. Photo: ANDINA

14:17 | Lima, Jan. 2.

Mining will boost private investment growth in the country in 2018, due to the rise in metal prices on international markets, Maximixe Consult group CEO Jorge Chavez projected.

"Consumption and investment will see a slight improvement at the beginning of the year, mainly because of mining investment, which is set to grow about 30%, thus mobilizing further private investment," Chavez indicated.

In this sense, he said, the increased expansion of Peruvian economy in 2018 will be explained by external factors due to improved prices of metals exported by the country.

According to Maximixe Consult group, Peru will achieve a growth rate of between 3.6% and 3.7% this year, lower than an earlier forecast of 4.2% by Peru's Central Reserve Bank (BCR).

In both cases, the GDP growth estimate for 2018 is above BCR's forecast of 2.7% for 2017.

"Commodity prices have seen a dramatic rise over the past months. They are not going to grow at the same pace in 2018, but the achieved level would result in a very high rate, even if they see a small expansion," Chavez told RPP radio and TV news station. 

(END) MDV/MDV/RMB/MVB

Published: 1/2/2018