Andina

FocusEconomics: Peru's GDP growth jumps in 2Q 2018


18:28 | Lima, Jul. 10.

Peru's growth jumped at the beginning of 2018's second quarter, following a strong acceleration in the first one, the latest FocusEconomics' LatinFocus Consensus Forecast report recalled.

"Economic activity skyrocketed in April to hit the fastest pace in five years, underpinned by a buoyant external sector and strengthening domestic demand," it pointed out.

Recently released data shows that —in May— the fishing sector continued to strongly recover, while mining investment surged, spurred by higher metal prices.

Further signs of the economy's good health came from the banking and public sectors.

In the first two months of the quarter, credit to the private sector rose at a robust pace, while the fiscal deficit shrunk for the third consecutive month last May, thanks to soaring tax revenue and the windfall from a tax amnesty.

Meanwhile, "public investment increased throughout the second quarter."

Regarding the political arena, Congress granted the Executive Branch powers last June to legislate on economic and fiscal matters for 60 days, in a clear sign of political agreement.

(END) NDP/MVB

Published: 7/10/2018