Investment bank Credit Suisse forecasts 4.9 percent growth for Peru by year-end as an improvement in the performance of the country’s Gross Domestic Product (GDP) is expected over the next months, it was reported Thursday.
"The figure projected will be bolstered by a robust recovery in the country’s mining output and the disappearance of calendar days effects affecting the country’s economy," Suisse's report on emerging markets said Thursday.
Juan Lorenzo Maldonado, chief economist for Peru at Credit Suisse, noted total credit recorded a year-on-year increase of 17.6 percent last April, while total deposits posted an annual rise of 15.8 percent.
“Current figures of growth do not reflect the country’s full potential and they are temporary,” said the senior official of the Zurich-based financial group, citing the latest statement from the Peruvian Central Bank (BCR).
Maldonado continued, “the Finance Ministry (MEF) has projected GDP annual growth would reach 5.7 percent, while the BCR has foreseen a 5.5 percent gain, the two forecasts are above Suisse’s analysis of 4.9 percent”.