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Scotiabank: Peruvian economy to expand 4% in 2019

00:00 | Lima, Dec. 12.

Peruvian economy might grow 4% in 2019, underpinned by private investment, as well as the start of Quellaveco (Moquegua region) and Mina Justa (Ica region) projects, Scotiabank's Department of Economic Studies has informed.

"Our 4% projection (for 2019) is slightly better than the 3.7% for 2018," the financial entity indicated. 

"Quellaveco and Mina Justa mining projects mark the difference since they add about half a percentage point to (GDP) growth," it added. 

The bank pointed out that many expected risks —from global threats and volatility in markets to internal political noise— already existed in 2018, to a greater or lesser extent.

Nevertheless, the Inca country's economy grew at a moderately good pace this year.

According to Scotiabank, there is a moderate and more broad-based improvement in the private investment portfolio, plus a formal labor market, whose growth may support consumption levels similar to last year's.

"Our private investment projection for 2019 stands at 6.5%, after a 4.7% increase in 2018," the banking institution concluded. 

(END) CNA/DTK/RMB

Published: 12/12/2018
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