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Peru PM: GDP to expand over 4% in 2019

13:51 | Lima, Apr. 4.

Private investment will remain Peruvian economy's growth engine, thus GDP in 2019 will expand beyond the rate registered last year (4%), Prime Minister Salvador del Solar projected on Thursday.

In this sense, the cabinet chief indicated the Government's policy proposal is supported by five pillars: integrity and fight against corruption; institutional strengthening for governance; equitable, competitive, and sustainable economic growth; social development and population's well-being; and effective decentralization for development.

Private investment

"Private investment will remain the economy's growth engine underpinned by the mining sector (projects), especially by Quellaveco, Mina Justa, and Toromocho Expansion (…)," he expressed.

In 2018, GDP increased 4% driven by the recovery of domestic demand.

Furthermore, he indicated, public and private investment rose 8.5% and 4.5%, respectively, and will remain significantly boosted in 2019.

Exports

On the other hand, the Prime Minister estimated exports will break a record this year. Plus, the sustained growth will reach US$60 billion by 2021.

He also highlighted the Inca country has recently concluded negotiations with the United Kingdom and upgrades its trade agreement with China.

Confidence vote

The high-ranking official attended a Parliament session to present the Government's general policy and request the confidence vote.

Previously, the Prime Minister held meetings with Congress' political groups within the framework of a dialogue round.

Last March, Salvador del Solar replaced Cesar Villanueva as the Inca country's Prime Minister. He leads a reshuffled cabinet.

(END) RGP/JJN/DTK/MVB

Published: 4/4/2019

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Peru PM: GDP to expand over 4% in 2019

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