BCP: Peru's economy to expand 3.7% in 2019

11:23 | Lima, Apr. 9.

Peru's GDP will expand 3.7% in 2019, thus becoming one of the most dynamic economies in the region, privately-run banking institution Banco de Credito (BCP) projected on Tuesday.

According to BCP's Department of Economic Studies Manager Carlos Prieto, the outcome would be mainly underpinned by a boost in the private sector, which would also mitigate the negative external factors that would be created by the global economy's deceleration.

Likewise, Prieto indicated private investment would diminish the impacts generated by public investment's decline in 2019, adding it slid near 20% in the first quarter.

Furthermore, he pointed out the Central Reserve Bank (BCR) will maintain its reference rate.

Prieto also projected the exchange rate will stand around the current levels by the end of 2019. However, it could depreciate further at year-end.

Finally, the manager stated Peru has a lot of potentials to take advantage of in the next decade in the mining, agro-export, tourism, aquaculture, forestry, and flower sectors. Thus, it is essential to improve the country's competitiveness.

Days ago, Prime Minister Salvador del Solar projected Peruvian economy will expand over 4% in 2019.

Likewise, he pointed out Peru's economic growth rate went from 2.5% (2017) to 4% (2018).

(END) RGP/JJN/DTK/MVB

Published: 4/9/2019

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BCP: Peru's economy to expand 3.7% in 2019

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