Lucien Chauvin Peru’s construction industry is responding with gusto to a call from the government to keep building. The fastest-growing LatAm economy hopes to mitigate the pain of global crisis.
The bulk of Peruvian president Alan García’s $3.2 billion anti-crisis package is earmarked for infrastructure and housing projects. He hopes to guarantee a continuation of the building boom that began early in the decade.
The construction sector has expanded for 90 consecutive months since mid-2002 and has led GDP growth since 2006. Building expanded by 16.5% in 2007 year-on-year, nearly double the overall economic expansion of 8.9%. The Peruvian Construction Chamber (Capeco) forecasts a 16.4% rise in 2008.
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