World Economy

Peru Economy on Track

Peru Economy on TrackPeru Economy on Track

Peru’s economy is on track to remain a top Latin American performer, growing 4% this year and 4.8% in 2017, underpinned by a mining rebound, Yahoo reported. The previous administration of Ollanta Humala forecast in April economic growth of 3.8% for 2016 and 4.6% in 2017. This year’s growth will be “mainly based on a mining boost” of roughly 20%, the government added in a report published in the official gazette. Copper output jumped more than 50% in the first half of the year, particularly on the back of new mine, Las Bambas, and the expansion of another called Cerro Verde.