IMF expects 3.25% growth in Peru’s GDP for this year

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LIMA (Sputnik) – The International Monetary Fund (IMF) expects Peru’s Gross Domestic Product (GDP) to grow by 3.25% this year, the international body said in a statement.

“The (Peruvian) economy is expected to recover little by little, thanks to the strengthening of the demand of the country’s business partners, a greater execution of the public investment budget and the resilience of investment and private consumption, all which will contribute to increase GDP growth to 3.25% in 2020, “the IMF said.

He also said that the GDP of the Andean country will grow by 3.75% in the following years.
The IMF obtained these projections after the visit of members of its Executive Board to Peru.
On the other hand, the financial entity congratulated the country for being one of the “best performing” economies in Latin America, with an average annual growth of 5.4% over the past 15 years, thanks, among other factors, to a solid framework of macroeconomic policy that supported this reality.

However, he indicated that factors such as commercial tensions abroad, the fall in the price of raw materials, as well as the ravages of the El Nino phenomenon suffered in 2017 and the investment problems derived from the Lava Jato case, formed a negative economic scenario for the year that passed.

The IMF maintains that the consequences of these conditions will be reflected in a decrease in GDP growth for 2019, which is expected to be 2.4%.





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