BCR: Analysts coincide on Peru's economic recovery

12:36 | Lima, Sep. 26.

The Central Reserve Bank has affirmed that all consulted analysts have projected the recovery of Peruvian economy in the second half of 2019 and for 2020.

According to BCR's Economic Studies Central Manager Adrian Armas, the surveys indicated that economists, financial system analysts, and non-financial businesses estimate the Inca country's economy will increase between 2.5% and 3% in 2019, as well as between 3.3% and 3.5% in 2020.

Likewise, he pointed out the economy registered a 1.7% rise in the first half of 2019, compared to the same period last year, due to a contraction in the primary sector (-2.9%).

"Even the most pessimist forecasts for the Peruvian economy, all of them predict some kind of recovery. No one believes the result of the first half will continue," Armas expressed.

Private and public investment

On the other hand, the BCR representative underlined that private investment posted a 4.1% expansion in the first half of this year, while public investment recorded a 0.7% decrease in the same period.

In this sense, Armas stated the Quellaveco mining project stands out among private investments. Non-mining private investment also increased.

Furthermore, he explained the public investment's outcome was due to the change of regional and local authorities earlier this year.

Remarks were made during the Investor Conference, organized by Credicorp Capital in Lima.

(END) MDV/DTK/MVB

Publicado: 26/9/2019