Andina

BCP: Peru's economy might increase 3%-3.5% in 2H 2018


15:58 | Lima, Sep. 11.

Peru's GDP will register a more moderate expansion —between 3% and 3.5%— in the second half of 2018 after having increased 4.3% between January and June, privately-run Banco de Credito (BCP) projected Tuesday.

According to BCP's Economic Studies Department, the Inca country's economy might also grow between 3% and 3.5% in the first half of 2019. 

After expanding 5.3% during the first semester, the banking institution indicated domestic demand might increase around 3% between July and December 2018, due to a sharp slowdown in public spending caused by sub-national public investment contraction.

On the other hand, BCP's macroeconomic weekly report informed private spending will maintain a healthy rate ranging from 3.5% to 4% in the second half of the present year.

As is known, a month ago BCP raised Peru's GDP growth projection from 3.8% to 4.0% (2018), and from 3.5% to 3.7% (2019) due to a higher-than-expected expansion in the second quarter of the current year and an accelerated investment schedule of Quellaveco's mining project.

(END) CNA/DTK/MVB

Published: 9/11/2018