Peru Central Bank president expects a 16.8 pct increase in private investment

Isabel Guerra

Julio Velarde, president of Peru’s Central Bank, estimates that private investment in Peru is likely to grow by 16.8% this year, and private consumption also is expected to grow by 5.2%.

Velarde remarks that internal demand may grow by 11.4% this year, after experiencing 11.1% growth during the first half of 2010.

Peru’s economic expansion is reaching similar levels than in the begining of 2008, commented Velarde to the Economy Commission at the Peruvian Congress.

He foresees that, according to the indicators, the economy will continue growing at high rates during the third quarter of 2010, like for example the local sales of cement, expecting to report 15% growth this past August.

He also highlighted the fact that investors have regained trust in the economic development, which is reflected in the investment projects to be executed during the period between 2010 and 2012.