MEF to raise Peru's 2018 GDP growth projection to nearly 4%

00:00 | Lima, Jul. 4.

Economy and Finance Minister Carlos Oliva announced his portfolio will revise upwards Peru's 2018 economic growth forecast to nearly 4%, given the good indicators witnessed in the Inca country.

"The almost-final figures are likely to be ready in August. The Central Reserve Bank (BCR) projects a growth rate of 4%, and I believe we are going to come very close to that figure," he noted.

In this sense, the cabinet member affirmed the Economy and Finance Ministry (MEF) will raise its 2018 GDP growth projection from 3.6% to almost 4% due to the positive economic indicators.

"All the indicators we are analyzing lead us to revise upwards our estimates," he highlighted.

In addition, the official pointed out the Inca country will register high growth rates in the upcoming months, but not like that of April (7.81%) since it was exceptionally high.

Domestic demand

Likewise, Oliva stated Peru's domestic demand remains very strong. Yet, said figures must be treated with caution as they also reflect the 2018 World Cup's impact on private consumption.

Private Investment

Lastly, the minister expressed his optimism in boosting private investment in the Andean nation over the next months.

"We will have very good news in the coming days, particularly in the field of mining (…)," he added.

Remarks were made during his participation before the Congress Budget Commission.


Published: 7/4/2018