The head of the Ministry of Economy and Finance (MEF), José Arista, said this Wednesday that Peru is "the biggest magnet" in the Latin American region for private sector investments due to the interest shown by companies to build large infrastructure projects.
"Peru is the biggest magnet, I would say, for private investment in Latin America thanks to these infrastructure projects: The port of Chancay, the new Jorge Chávez International Airport, the port of Callao," said Arista during an interview in TV Perú news program
The minister mentioned that Peru has macroeconomic stability, reflected in the 84,000 million dollars of its international reserves, an inflation rate of 2.4% and the lowest level of debt in Latin America with a 32 % of the Gross Domestic Product (GDP).
In addition, he highlighted that the three risk rating international agencies (Fitch Ratings, S&P and Moody's) changed their perspective for Peru this year.
"Thanks to these results we are going to be stable and possibly, depending on the next years’ results, we will begin to recover the lost ground," he added.
- MEF: Peru will lead growth in Latin America with a 3.2 % rate at the end of 2024
Infrastructure growth
On the other hand, Arista mentioned that this year all records have been broken in infrastructure growth.
"We have a growth of 47 thousand million soles (US$ 12.5 billions) in infrastructure. The most recent or previous figure was 37 thousand million soles (US$ 9.9 billions). We have grown more than 20 per cent," he explained.
Despite this, he acknowledged that this figure covers 15 % of the existing space in the infrastructure gap, which is valued in more than 100 billion dollars.
"We should work on the large part of our budget to close this gap, we are missing 85 % to fullfill it. Every day that passes, bigger infrastructure works is needed. For example, the port of Chancay needs larger roads," he pointed out.
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(END) GDS / MDV
Published: 12/18/2024