The final quarter of 2017 and the beginning of 2018 show a better outlook for economic growth in Peru.
Peru’s government has not withheld showing their frustration and disappointment with the difficulties of Pedro Pablo Kuczynski’s first year as president. Natural disasters and corruption scandals have made for sluggish economic reactivation.
However, Peru’s ministers and analysts are beginning to see the light at the end of the tunnel.
The country’s central bank chief stated last week that we could now be at the turning point. He sees 4% growth as possible for the last quarter of 2017 and for the year of 2018 as the government’s economic reactivation plans begin to take effect.
Prime Minister Fernando Zavala echoes these figures, stating that Peru’s economy is likely to grow 3.8 to 4% in 2018. This is down from his previous prediction in April of 4.5% as reported by Nasdaq.
It is important to recognize that despite the difficulties amidst El Niño floods and corruption scandals, Peru is still consistently one of the fastest growing economies in the Latin American region.