He Ministry of Economy and Finance (MEF) has raised its growth projection economic increasing it from 3.1% to 3.2%, as established in the Multiannual Macroeconomic Framework (MMF).
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“There will be an additional positive increase due to the normalization of supply in the primary sectors (anchovy fishing and agriculture), given the dissipation of weather phenomena,” the document reads.
It also indicates that non-primary sectors will benefit from the recovery of domestic demand associated with the acceleration of the execution of infrastructure projects and greater household consumption.
According to the MMM, there are leading indicators that reflect a better performance for the second half. Among them, it refers to the production of electricity and imports of capital goods, which in FOB values grew 13.8%.
“The confidence of economic agents remains in the optimistic range. For example, six-month investment expectations, an indicator linked to investment, register 17 points on average between January and August 2024,” he said.
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In this regard, he noted that for the second half of the year, the economy will be consolidated due to the greater dynamism of domestic demand and exports, with favorable financing conditions, improved expectations of economic agents and a favorable international environment.
“Furthermore, the measures implemented by the Executive Branch within the framework of the delegation of powers will contribute to boosting the reactivation of the economy,” he said.
On the other hand, private investment is estimated to have grown by 2.5% due to the recovery in mining expenditure due to the greater progress of projects in progress and new mines.
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