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Peru says economy likely to grow by 4.2 percent in 2015

Staff writer ▼ | March 12, 2015
Peru's commodities-powered economy will likely grow at 4.2 percent in 2015, the economy ministry said. This is slower than previously forecast.
Latam   Pero to grow slower than previously forecast
The economy ministry confirmed the new working forecast a day after the newspaper El Comercio reported that Fernando Figueroa, the government's director of macroeconomic forecasts, gave the new forecast at an event at the Peruvian-Nordic Chamber of Commerce.

In late January, the government projected growth of 4.8 percent. The ministry will release a new official forecast in coming weeks, the spokeswoman said. The government and central bank have revised down their growth forecasts several times over the past year as the economy has slowed sharply to its weakest pace since 2009.

Gross domestic product rose 2.35 percent in 2014 as mining activity slumped on weak mineral prices and private investment fell. The average annual growth rate was 6.4 percent during the previous decade.