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Peru: Mining projects implementation to boost GDP in 2018

Cobre

Cobre

13:19 | Lima, Dec. 12.

The execution of a set of medium-sized mining projects will boost Peru's GDP in 2018, BBVA Research Economic Studies Manager Hugo Perea pointed out.

According to BBVA Research's projections for 2018 —made three months ago— Peruvian economy will maintain a future 3.9% growth rate in its next report to be released in January 2018.

In this sense, Perea noted one of the factors that may contribute to increasing this amount is the favorable international environment, thanks to higher commodity prices that lure more private investment in mining exploration.

He added the other positive element —that may lead to boosting growth projections— is the implementation of a series of medium-sized mining projects, which had not been previously included in the report.

In this sense, the analyst underlined these projects might mobilize slightly more than US$4 billion that should be executed within the next three to four years.

"[...] this should maintain our growth projection of 3.9% [for 2018], considering a range of between 3.5% and 4%," Perea concluded.

Remarks were made during his participation in the "Economic and Political Perspectives 2018," organized by the Peruvian Association of Investment Professionals (CFA Society Peru).

Peruvian economy will expand 3.9% next year, according to the latest FocusEconomics' Consensus Forecast LatinFocus December report released. 

(END) MDV/JJN/JAA/MVB

Published: 12/12/2017
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