Andina

Fin Min: Peruvian economy might post highest growth rate of 2023 in July

Photo: ANDINA/Eddy Ramos

Photo: ANDINA/Eddy Ramos

13:53 | Lima, Jul. 20.

Economy and Finance Minister Alex Contreras on Thursday forecast that July would see the highest GDP growth rate of this year, which will further revive the economic activity in the country.

"We expect to achieve the highest GDP growth rate of the year as of July onwards, in line with the progress of 'Con Punche Peru' (Peru with Strength). We expect to continue reviving the economy, but with a medium- and long-term perspective," Contreras remarked.

"First, we will stabilize the economy. I repeat, the highest growth of the year will be experienced in July, and the aim is to allow this to continue, despite the shocks. Besides, we are preparing to face El Niño phenomenon," he added. 

At the 14th International Economic Forum Quo Vadis Peru 2023, organized by the Lima Chamber of Commerce (CCL), the minister highlighted that public investment has increased more than 15% to date.

"The idea was to prevent this moderate economic activity from becoming a deep recession; and, fortunately, such goal has been achieved," the government official stated.

"Our principal assessment element will be the execution of public investment, and this has been stated by the President (Dina Boluarte), the goal is to ensure that 100% of it is executed at the national government," he said.

"35% (of public investment) has been executed. Then, the challenge is enormous. Yesterday (July 19), every minister pledged to continue promoting this recovery process," Contreras affirmed.

The Cabinet member underlined that the Economy and Finance Ministry's country strategy is to make progress in the execution of public investment, not only financially, but also in terms of better services.

(END) CNA/JJN/RMB/MVB

Published: 7/20/2023