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Peru: GDP growth, investment projections might be revised upwards

00:00 | Lima, Mar. 15.

Peru's Economy and Finance Minister Carlos Oliva affirmed the 4.2% GDP growth estimate for this year might be revised upwards, as is the case with public (4.5%) and private (7.5%) investment.

"We are in the process of revising projections for this year. The macroeconomic report with official projections has to be published in April. Estimates are very likely to be revised upwards, but we need technical support for this," Oliva stated.

"For example, the Chancay Port investment was not included in last year's projections because it was not consolidated, but we have to incorporate it now," he added.

"We are confident the economy will show a better performance this year —compared to 2018— even though last year was quite good," he continued.

The cabinet member announced the new official projections will be available in April, and that the sector is still working with predictions from last year when the 2019 public investment growth was projected at 4.5% and private investment at 7.5%.

"In the case of private investment, all major projects that started last year in areas such as mining —with Quellaveco, Mina Justa, and the Toromocho expansion— the port sector —with Salaverry— as well as Lots 65 and 95, are being consolidated this year," he stated.

"We received very good news about Chancay Port in January: a US$3 billion investment. Then, the truth is that private investment expectations in several areas of the economy are quite high," he added.

The minister announced the Lake Titicaca treatment plant contract will be awarded soon. So far, five top-level bidders are in competition for the concession of this project.

(END) CNA/JJN/RMB/MVB

Published: 3/15/2019
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