Peru Fin Min: Economy recovered in June 2019

11:56 | Lima, Jul. 2.

Peruvian economy recovered again in June. It may have registered a growth rate between 3.5% and 3.7%, according to some leading indicators, Economy and Finance Minister Carlos Oliva has affirmed.

The cabinet member said the lower growth rate posted in the first months of 2019 was mainly due to primary sectors, such as mining and fishing.

"This is very preliminary, we will obtain the official data in a month and a half, but the leading indicators we rely on already show that the economy recovered again in June," he expressed. 

Likewise, Oliva indicated ups and downs were recorded in the first six months of this year, and primary GDP decreased nearly 8%. 

"The opposite has happened with non-primary GDP, which is related to manufacturing and to services, trade, construction, and electricity that currently register a positive performance linked to consumption," he told RPP radio and TV station. 

In this sense, the minister explained two growth rates were posted, a positive one and a negative one. Thus, the accumulated GDP for the first four months stands below 2%. 

Public investment 

On the other hand, the official pointed out public investment —during the first half of 2019— recorded zero growth, which will be reverted in the second half

"We are sure we will end up with a positive figure, our forecast is over 4%. We are working hard for that," he added. 

Private investment 

Moreover, the minister underlined the National Confederation of Private Business Institutions' (Confiep) contribution, as it submitted suggestions to boost economic growth with the highest private investment


Published: 7/2/2019
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