Andina

Peru President: Economy rebounds, public and private investment underway

10:20 | Lima, Jun. 5.

Peruvian economy has recovered during the first two months of the new administration, rising close to 5%, President Martin Vizcarra said in his recent address to the nation.

In this sense, he explained inflation was 0.04% last month, thus showing stability as a basis for progress in the Andean nation.

"Our economy is starting to grow again, and that is good news. We require both private and public investment to consolidate such growth," the statesman said Monday night from Lima's Government Palace.

The start of Junin-based Toromocho mining project's second stage was announced last week. The initiative entails an investment of US$1.355 billion.

Other projects are underway along with Toromocho, which together represent a mining investment of US$10 billion earmarked for this year. Mina Justa (Ica region) and Quellaveco (Moquegua region) are two of them.

Likewise, the recently awarded contract to upgrade Salaverry port (La Libertad region) —with an investment of US$229 million— will contribute to revitalizing the economy in northern Peru.

The same impact will have the modernization of General San Martin port terminal, which requires a US$215 million outlay.

"These investments are made possible thanks to the political stability the country currently enjoys and the signs of recovery in our economy," the Head of State remarked.

(END) NDP/RMB/MVB

Published: 6/5/2018
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