Peru's 2018 GDP growth rate of 4%, forecast by the International Monetary Fund (IMF), will be underpinned by high metal prices in a favorable international scenario, Phase Consultores Head Juan Carlos Odar said.
"I think IMF
thinks the international scenario will be quite favorable to Peru, due to [mineral] commodity prices at particularly high levels, mainly that of copper
," he told Andina news agency.
The economist underlined an unusual combination of growth taking place at the international level. "The developed and emerging economies are expanding together," he said.
"This scenario poses a major source of demand for our metals, which helps keep the price high and increase the production volume," he added.
According to Odar, IMF considers Peru's weak economic performance in late 2017
—with an evident slowdown in the last quarter— has been temporary.
"We are talking about a very fast recovery following the last quarter. Then, IMF considers there will be no major inconveniences this year and the 4% target will be reached —a forecast that is above the consensus," he pointed out.