Andina

Peru: Public investment to grow 20% in 2021; 4.5% in 2022

Photo: ANDINA/Vidal Tarqui

Photo: ANDINA/Vidal Tarqui

15:00 | Lima, Oct. 26.

Public investment will expand 20% this year and 4.5% in 2022, Central Reserve Bank (BCR) Governor Julio Velarde projected on Tuesday.

"Public investment will grow 20% in 2021, and we expect that it will grow 4.5% next year," he stated during the 2021 Economic Forum: "Confidence for economic development: managing change" organized by the American Chamber of Commerce of Peru (Amcham).

Likewise, the expert highlighted the dynamism of Peru's economy last August as it stood above the pre-pandemic level.

"In August, we were already above (the levels of) 2019. To a large extent, it has recovered from a sharp fall. We have witnessed an extremely fast recovery," he pointed out.

"Last week, the (International) Monetary Fund released a (2021) growth projection of 11% for Peru," he stressed.

Furthermore, the BCR governor indicated that private investment will expand 24.5% in 2021. However, a growth of 0% is expected for next year.

"Private investment this year is coming extremely strong, expanding 24.5%, with non-mining investment growing almost 26%," he indicated.

Recovered employment

Concerning employment, the BCR governor pointed out that the amount of formal jobs in August 2021 is above that corresponding to August 2019.

"(...) We can see that we are already, in terms of formal jobs (public and private sectors), above pre-pandemic levels," Velarde commented.

(END) CNA/JJN/MVB

Published: 10/26/2021