Peru Fin Min: Public investment recovery to boost construction in 2019

16:21 | Lima, May. 7.

Public investment recovery in March and April 2019 will result in better growth figures in the construction sector, Economy and Finance Minister Carlos Oliva projected Tuesday.

"Public investment fell in the first two months of the year, but that decline has been reversed starting March (…)," the official expressed.

Likewise, he is confident Peruvian economy will expand 4.2% this year, thanks to the latest data public investment has registered.

"We are sure we will reach that rate (4.2%), and it will probably be the variable that will boost growth above the forecasts of other analysts," Minister Oliva added.

Income tax reduction

On the other hand, the official indicated that —before deciding if other sectors will be considered for the reduction of income tax— the impact of the inclusion of hotels and restaurants will be assessed.

"First, we must assess if it is helping formalization," Oliva said.

Remarks were made during the International Economic Forum Quo Vadis Peru 2019 organized by Lima Chamber of Commerce (CCL).

(END) CNA/JJN/DTK/MVB

Published: 5/7/2019

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Peru Fin Min: Public investment recovery to boost construction in 2019

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