Calm sea with some clouds looming over Peru’s economy

In a conference with foreign correspondents, the minister noted that the Peruvian economy is in the process of recovery, mainly due to the resilience of the primary sectors, to which is added the opening of important projects.

And regarding the decline in copper, he said that its impact was on its counterpart the decline in oil prices, which led to a strong increase in its derivatives.

Graham noted that controlling Covid-19 through mass vaccination has been key to running the economy, which has been hit by the crisis caused by the pandemic and its impact on crippled activities.

In a position of moderate optimism, it reported a 3.8 percent increase in GDP in the first four months of this year, above the pre-pandemic rate, representing a full-year growth forecast of 3.5, among the highest in the region, although From, he pointed out, in constant review.

The recovery of formal employment, with an increase of 6.9 percent between June 2021 and May 2022, emerged with a total of five million and 500 thousand people.

The minister and the economist also said that this year, private investment will repeat the record of 116 billion seol (about $30 billion).

He stated that this month the initial phase of the Quellaveco copper project began, which will increase GDP by 0.4 points this year and one point the next.

Among the measures being prepared, he referred to the National Infrastructure Plan to encourage private investment and those aimed at boosting government investment, which, as of last June, began showing positive rates.

He noted the progress made in projects such as the construction of the Chancai port north of the Lima region, with an implementation value of $369 million, 12 percent of the total cost of three billion.

In addition, the work of the Majes-Siguas II irrigation project will be resumed, which will enable 38,500 hectares of agricultural activity that will create 180,000 direct and indirect jobs.

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