MEF: The Peruvian economy recovers in the last few months

May 14, 2009 17:58 Peru could grow 5% next year, led by the construction sector, the Ministry of Economy projected.

The growth of Peru’s Gross Domestic Product (GDP) could pick up in the latter month’s of this year to end at 3.5%, led principally by the aggressive public investment plan that the Covernment has implemented nationally, said the Ministry of Economy and Finance (MEF).

“In this first quarter (Q1) growth of the economy should stand around 2%, and this should start to pick up towards yearend up to 3.5%. Additionally, forecasts for 2010 that we handle indicate that GDP will grow up to 5%”, affirmed the minister of Economy and Finance, Luis Carranza.

He stressed that, despite the financial crisis, the construction sector will lead growth, advancing 11.4%, followed by mining and hydrocarbons, growing at 5%.

In the meantime, manufacturing activity will grow 2.2% this year, if we consider that primary manufacture would grow 3.7% and non-primary 1.8%, details Andina agency.

Moreover, the agricultural sector would grow 2.4%, the fishing sector 2.9%, commerce 2.2% and services 4.1%.

He projected that internal demand would grow 4.2% in 2009, with prívate consumption 3.5% and public consumption 8%. Plus, internal gross investment would grow 4.6% and fixed investment 12.5%.

“The increment in public consumption should not be interpreted as salary raises or new contracts indiscriminately, since it is a concentration  of disbursements made to the Fund for Price Stabilization of Fuels Derived from Oil, plus the maintenance of highways, schools and irrigation canals”, he clarified.

Source: Diario Gestión

Photo: El País.com

Tags Blogalaxia: Tourism, Peru, Peruvian Economy.

MEF: The Peruvian economy recovers in the last few months4.551

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