World Economy

Peru Revises Growth to 5%

Peru Revises Growth to 5% Peru Revises Growth to 5%

Peru’s economy will grow by 5% next year instead of 4.8% as previously forecast by the government, President Pedro Pablo Kuczynski said in an interview with a local newspaper published on Monday, Reuters reported. “I don’t believe in those forecasts that say we’re going to grow 4.2% or 4.4%” next year, Kuczynski was quoted saying in the financial daily Gestion. “There’ll be a reactivation of private investment here.” The central bank revised its 2017 growth forecast down to 4.3% from 4.5% last week as it trimmed its outlook for private spending in Peru, a global minerals exporter. The economy grew by a weaker-than-expected 2.12% in October, compared with the year-earlier month, dragged down by a drop in government infrastructure spending that prompted a steep contraction in construction. The president told Gestion that his government would help boost construction by building 40,000 homes for low-income households with the private sector. Kuczynski’s office did not immediately respond to requests to confirm the accuracy of the quotes.


Add new comment

Read our comment policy before posting your viewpoints