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Peru: Economy to expand 4% in 2018 supported by proper investment plan

14:19 | Lima, Apr. 16.

A good public investment plan will help improve the country's economic performance to achieve growth levels of 4% in 2018 and 5% in the coming years, Peru's new Economy and Finance Minister David Tuesta affirmed Monday.

"My permanent concern, even at the cabinet's discussion roundtable, is to develop a good plan for public investment and reconstruction because if it is done wrong, it (the economy) won't improve," the minister expressed.

Tuesta said he is sure the Government will enact proper regulations that will support the reconstruction stage, and efforts will be undertaken in that sense.

"Otherwise, things will not move forward," the economist warned.

"We must work so that growth approaches this year's projection of 4%, and for the following years we'll try and make all the efforts to reach expansions of 5%, which is our goal for the Bicentennial year (2021)," the government official said.

According to the Multiannual Macroeconomic Framework, national economy is expected to expand 4% in 2018. Likewise, the average expansion —between 2019 and 2021— is also forecast at 4%.

"But, if things remain the same with the paralysis we've observed in investments (...), we may grow merely 3% (this year)," the cabinet member stated.

"That is a growth level a country like Peru cannot afford (…)," he added.

Remarks were made within the framework of GORE-Executive (Executive Branch and Regional Governors Meeting) held at Lima's Government Palace.

The two-day meeting, which features Peruvian ministers and regional governors, is aimed to spur actions that will encourage further development in the nation.

(END) CNA/JAA/MVB

Published: 4/16/2018
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