LIMA (Reuters) – Peru’s economic growth is expected to exceed a previously estimated 3.1%, President Dina Boluarte said in a speech to the South American country’s congress on Independence Day on Sunday.
Peru’s central bank forecast in June that gross domestic product will grow 3.1% this year after the economy shrank 0.6% in 2023.
“This solid performance reflects the resilience of the Peruvian economy. We are committed to restoring our growth capacity and we are on that path,” Boluarte told Congress.
Peru has been one of the best performing countries in South America for many years, but the country’s economy struggled last year due to bad weather, lower private investment and anti-government protests that negatively affected the Andean country’s mining sector.
The government of one of the world’s largest copper suppliers has since spent millions of dollars to boost the mining sector.
(Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Leslie Adler)
