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PERU: Finance Minister Arista Says Economy In Expansive Cycle

PERU
BulletPeruEM BulletEmerging Market News
  • Following yesterday’s stronger-than-expected November activity data, Finance Minister Arista said robust economic growth in recent months shows that the economy is now going through an expansive cycle. Primary activities benefited from a strong expansion in agriculture and fishing, while manufacturing growth picked up (+6.7% y/y).
  • Itaú notes that following these data, the carryover for Q4 GDP is tracking at 0.6% q/q (sa), from 1% q/q (sa) in Q3. They see GDP growth at 2.9% in 2024 and 2.8% in 2025, with growth this year supported by the execution of mining and infrastructure projects, along with the increase in consumption in the context of the recovery of real incomes.
  • In other news, airport operator Fraport will delay the opening of its new $2bn airport in Lima for two months until March 30, the government said yesterday. Transport Minister Raul Perez-Reyes said that a staged opening is now being considered as tests ahead of the inauguration are carried out.
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  • Following yesterday’s stronger-than-expected November activity data, Finance Minister Arista said robust economic growth in recent months shows that the economy is now going through an expansive cycle. Primary activities benefited from a strong expansion in agriculture and fishing, while manufacturing growth picked up (+6.7% y/y).
  • Itaú notes that following these data, the carryover for Q4 GDP is tracking at 0.6% q/q (sa), from 1% q/q (sa) in Q3. They see GDP growth at 2.9% in 2024 and 2.8% in 2025, with growth this year supported by the execution of mining and infrastructure projects, along with the increase in consumption in the context of the recovery of real incomes.
  • In other news, airport operator Fraport will delay the opening of its new $2bn airport in Lima for two months until March 30, the government said yesterday. Transport Minister Raul Perez-Reyes said that a staged opening is now being considered as tests ahead of the inauguration are carried out.