Private investments in Peru to increase 20 percent in 2008

(LIP-ir) — According to estimates made by Julio Velarde, president of the Central Reserve Bank of Peru, private investments in the Andean country will increase by 20 percent in 2008.

Velarde explained that this prediction had been made based on the many agreements that had already been established and were in their development stages in the country.

Many of the projects are to be carried out in 2008, said Velarde.

"Private investments increased 20.1 percent in 2006, ended up rising 23 percent last year and we estimate they will continue increasing 20 percent this year", affirmed Velarde.

The head of Peru’s Central Bank recalled that in 1997, private investments in the country were equivalent to 19.4 percent of the country’s GDP, stating that it was over two percentage points higher this year.

He added that public investments in the country were only equivalent to four percent of the country’s GDP.

26.5 to 27 percent of the country’s GDP is public and private investment, said Velarde.
"This is reaching acceptable levels, levels Asian countries had when they started more intense growth", assured the president of Peru’s Central Bank.