on Tuesday projected that private investment and consumption will contribute 19.9 points to
In his presentation before Parliament's Budget Commission, the high-ranking official explained that
GDP expansion (+10%) next year will be based on private consumption recovery. This will contribute 10.5 percentage points to said growth. In this sense, private consumption would go from -9.6% (2020) to +6.5% (2021).
Furthermore,
private investment will contribute 9.4 points to GDP growth in 2021. Besides, this type of investment will climb from -34.25% (2020) to +21.0% (2021).
Meanwhile, public spending will add 1.9 points to next year's expansion. It will register a growth of 0% in 2020. Nonetheless, it will record an increase of 10.6% in 2021.
Recovery
The Cabinet member also reported that the Peruvian economy fell 17.1% in the first quarter of 2020, but will recover in the second half and merely decrease by 7.1%.
"If we see 2020 as a year, we are going to say that it is a bad year. However, if we divide it into semesters, we can say that there is a positive trend in the figures, which is something encouraging," he remarked.