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BCR might revise upwards Peru GDP growth projection above 4%

00:40 | Lima, Aug. 11.

Central Reserve Bank (BCR) has affirmed it might revise upwards Peru's economic growth projection for 2018.

At the moment, BCR's forecast stands at 4%

"We are currently in the process of revising the projection. It could be an upward revision due to the results we've seen in the first half (of the year), particularly in the second quarter," BCR Economic Studies Manager Jorge Estrella stated. 

"(…) regarding the primary sectors, fishery is still making a good impact, with a second season we didn't have last year," he added. 

He went on to add BCR's decision to maintain its reference rate at 2.75% represents a clear expansionary monetary policy, which boosts a higher demand.

Mining investment 

According to Estrella, mining investment would register an over 20% increase this year due to the implementation of Quellaveco and other mining projects. 

"For next year, we've forecasted an investment worth over US$1.000 billion (for Quellaveco), a venture that should total US$5.000 billion," he added.

The BCR official affirmed the market's expectations show a copper price increase in the medium term. 

(END) CNA/JJN/DTK/MVB

Publicado: 11/8/2018
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