Peru: Mining investment to increase 20%, GDP 4% in 2019

15:29 | Lima, Apr. 26.

Mining investment in Peru will expand 20% in 2019, while GDP will increase 4%, Central Bank Reserve's (BCR) Monetary Policy Manager Paul Castillo projected Friday.

In this sense, he noted mining investment rose 25% last year.

Likewise, Castillo recalled this type of investment grew 40% in January and 28% in February 2019, within the framework of a surge in commodity prices.

Furthermore, he estimated Peruvian economy will rise 4% in 2019 underpinned by domestic demand (4%). Thus, he considered national GDP will increase above its potential (3.7%).

Moreover, the BCR representative projected consumption will grow 3.8% and private investment expand 6.5% this year.

In addition, Castilla affirmed the goal is to close the production gap by 2020.

On the other hand, the officer informed BCR will maintain its reference rate in the next months.

(END) JJN/DTK/MVB

Published: 4/26/2019

Peru: Mining investment to increase 20%, GDP 4% in 2019

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