Andina

Peru to continue attracting foreign capitals due to better expectations for recovery

Lima

Lima's Financial Center. Photo: Scotiabank

12:00 | Lima, Oct. 2.

Peru will continue to attract international capitals in view of the better expectations for its economic recovery once the COVID-19 pandemic is overcome, if compared to other countries in the Latin American region, BBVA Research Chief Economist Hugo Perea has affirmed.

Perea said that —in recent days— he had been in contact with foreign investors, who expressed their expectations regarding the country's situation.

"The general feeling is that Peru relies on macroeconomic strengths. The consensual forecast is that, after the COVID-19 crisis, the Peruvian economy will be the one that will fare best in Latin America," he expressed during a conference organized by the National Confederation of Private Business Institutions (Confiep) and the Graduate School of the Peruvian University of Applied Sciences (UPC).

Perea —who had served as Deputy Economy Minister in the past— indicated that the pandemic will have an economic impact on Peru.

"Compared with our peers in the region, we will fare better, and that could be an attraction for large capitals, which could help us in the recovery (process) during the following months," he said.

According to projections by the Central Reserve Bank (BCR), Peru's economy —after falling 11.5% this year— may grow 11% in 2021 —an expansion higher than that forecast for Latin America and the Caribbean (3.8%), and even higher than those projected for the United States (4%), the United Kingdom (6%), China (8.1%), and the Eurozone (6%).

(END) DOP/MDV/JJN/MVB

Published: 10/2/2020