Reuters - US Market News

Peru president raises 2017 economic growth view to 5 pct -report

Dec 26 Peru’s economy will grow by 5 percent next year instead of 4.8 percent as previously forecast by the government, President Pedro Pablo Kuczynski said in an interview with a local newspaper published on Monday.

“I don’t believe in those forecasts that say we’re going to grow 4.2 percent or 4.4 percent” next year, Kuczynski was quoted saying in financial daily Gestion. “There’ll be a reactivation of private investment here.”

The central bank revised its 2017 growth forecast down to 4.3 percent from 4.5 percent 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 percent 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.

(Reporting By Mitra Taj Editing by W Simon)

Reuters: Market News

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