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President Boluarte Announces Boost To Infrastructure Spending

PERU
  • President Boluarte delivered a major speech yesterday, launching a spree on infrastructure spending to boost the economy. She said that the government will draft a bill to create an infrastructure ministry to speed up the investment process. In particular, the government wants to build seven new railways around the country, connecting up the mining areas with the new $1.3bn Chancay port, which will be inaugurated in November.
  • Boluarte also said that the economy will grow by more than 3.1% this year, following recent strong activity data.
  • On the data front, attention this week will be on July CPI data, due on Thursday. Analysts currently expect headline prices to rise by 0.42% m/m, keeping the annual rate of inflation steady around 2.27% y/y. The next BCRP interest rate decision will follow on August 8.

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