PARACAS, PERÚ-NOVIEMBRE 14. El ministro de Economía, Alonso Segura, en CADE Ejecutivos 2,014.Foto: ANDINA/Carlos Lezama
Based on the latest International Monetary Fund (IMF) projections, Peru’s Finance Minister Alonso Segura said the Peruvian economy will expand by 4% this year, thus taking the lead in the region again.
According to the Finance Ministry (MEF), the multilateral entity considered that even though the weakness in exports and investment caused a strong downturn in the Peruvian economy, concerted actions and the development of mining projects are expected to spur a significant rebound this year.
On the matter, Segura added that even with such a pessimistic projection, placed below average analyst estimates, besides leading the region, the Andean economy is expected to see the fastest expansion pace compared to last year.
MEF underlined the IMF projection is below the World Bank’s growth forecast of 4.8% announced last week as well as the expectations of the market analysts.
For instance, a survey released by Latin American Consensus Forecast consulting firm early this month found that analysts expect growth of 4.4% for Peru this year.
Segura went on to add that international conditions are particularly challenging for Latin American economies due to their production and export structure.
For that reason, he urged political forces to cooperate with the government to continue boosting reforms aimed at increasing competitiveness and productivity gains in the medium term and at contributing to restoring expectations in the short term.
(END) NDP/CCR/RMB/MVB
Published: 1/22/2015