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Peru economy may expand 3.5% in 2H 2018

Centro Financiero.Foto: ANDINA/Carlos Lezama

00:00 | Lima, Aug. 16.

Peruvian economy may experience a more moderate growth rhythm in the second half of 2018, standing at 3.5% after its 4.3% rise in the first half, privately-run Banco de Credito (BCP) projected.

The fourth quarter of 2018 will be more dynamic than the third one, if there is a good second fishing season, and if sub-national public investment avoids a sharp slowdown after the regional and municipal elections next October, it forecasted.

Despite higher-than-expected rates last April (7.81%) and May (6.43%), Peruvian economy grew 1.98% in June.

Thus, GDP expanded 5.4% in the second quarter. Said figure was the highest in 18 quarters, BCP's Economic Studies Department pointed out.

Furthermore, GDP projections for 2018 and 2019 were revised upwards to 4% and 3.7%, respectively.

Said revision was due to the high growth in 2018's second quarter, along with an accelerated investment schedule of Quellaveco's mining project (between US$1-1.30 billion in 2019).

(END) MMG/JJN/DTK/MVB

Published: 8/16/2018

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Peru economy may expand 3.5% in 2H 2018

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