The Central Reserve Bank of Peru (BCR)
on Sunday reported that private investment increased 9.4% in the fourth quarter of 2020, after three consecutive quarters of decline.
"This result was associated with the dynamism of self-construction and the improvement of investors' expectations regarding local and global activity, which was benefited from the news on the development of an effective vaccine against COVID-19," he said.
The BCR indicated that the growth of private investment in the last quarter of 2020 was fueled by higher investment in non-mining sectors (18.7%). However, this increase was offset by a decline in mining investment (29.7%).
The Ministry of Energy and Mines (Minem)
reported that in the fourth quarter of 2020 investment in the mining sector amounted to US$1.431 billion, down by US$647 million from the fourth quarter last year.
For its part, non-mining investment showed a positive growth rate after four quarters.