BCR: Peru GDP growing 4% in 2018, 5% in 20 years are significant achievements

17:02 | Lima, Nov. 20.

Peru's close-to- 4% GDP growth projection for 2018, plus its over 5% increase in the last 20 years are important achievements that cannot be overlooked, Central Reserve Bank (BCR) Governor Julio Velarde affirmed Tuesday.

"It has been 20 years of continuous growth. Never in history had we ever recorded (…) such a long period of growth," Velarde expressed. 

"Peru will expand approximately 4%. Along with Bolivia and Paraguay, we would be the countries with the highest growth rates (in the region)," he added. 

However, he indicated expansion suffered a slowdown in the third quarter of 2018, and even September's GDP figures were lower than expected. 

"But public investment —which decreased in September— rose strongly in October," the BCR representative said. 

Likewise, Velarde indicated economic growth has been recovering this year. 

In 2017, the Inca country was greatly affected by the construction sector's scandal, and many projects were paralyzed due to the Odebrecht case, as well as the Emergency Decree No. 003. 

Better impression 

On the other hand, the BCR Governor pointed out foreigners have mentioned Peru's image has been strengthened thanks to the fight against corruption

"A Spaniard was saying that in other nations corrupt people are not prosecuted. Nevertheless, in Spain and Peru they are," he concluded. 


Published: 11/20/2018
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