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BBVA: Peru economy may expand 3.9% in 2019

16:06 | Lima, Apr. 25.

Peruvian economy will expand 3.9% in 2019, BBVA Research has projected, thus maintaining its January forecast.

According to Peru Situation Report —corresponding to the second quarter of 2019— BBVA Research indicated economic expansion in the first quarter will stand between 2.5% and 3%.

Likewise, BBVA Research considers that Coastal El Niño Phenomenon's macro-impacts have been controlled.

Furthermore, a favorable business sentiment for investment will remain, and mining investment will continue to increase.

In addition, mining production will be normalized, and there will be a lower fiscal stimulus compared to 2018.

Projection for 2020

On the other hand, BBVA Research projected Peruvian economy will grow 3.7% in 2020.

"There will be some moderation compared to the two previous years due to the dissipation of mining investment boost," BBVA Research Head Francisco Grippa expressed.

"It will be partly compensated for by public investment recovery, as sub-national governments' spending will be normalized and public infrastructure construction will accelerate," he concluded.

(END) CNA/DTK/MVB

Publicado: 25/4/2019