NEWS
MORE THAN 1,561 NEW RURAL TOWNS WILL HAVE 4G MOBILE TELEPHONE AND INTERNET SERVICES LA LIBERTAD: THE MODERNIZATION OF THE PORT OF SALAVERRY IS 80% COMPLETE TOQUEPALA IS TAKING THE FIRST STEP TO ENTER 5G FOREIGN-OWNED COMPANY REINVESTMENT AMOUNTED TO US$ 2,310 MILLION BCR: RECOVERY OF PRIVATE INVESTMENT GDP TO GROW 34.4% IN THE SECOND QUARTER MOODY'S AGENCY ASSURES PERU'S A3 RATING US$ 340 MILLION IN LOANS FOR ROAD INFRASTRUCTURE PROINVERSIÓN CALLS FOR INTERNATIONAL BIDDING FOR PUBLIC TELECOMMUNICATIONS SERVICES ADDENDUM TO THE MUELLE NORTE CONCESSION WOULD ALLOW INVESTMENT OF US$ 1,050 MILLION FROM APMT. AMERICAN LITHIUM WILL PRIORITIZE LITHIUM PROJECT OVER URANIUM IN PUNO RECORD IN THE EXECUTION OF PUBLIC INVESTMENT EUROPEAN UNION (EU) WILL SUPPORT TRANSPORTATION IMPROVEMENT COPPER NEARS 10-YEAR HIGH NATURAL RESOURCES MUST BE ENHANCED MONETARY FUND PROPOSES TO STRENGTHEN COUNTRIES' FISCAL RESPONSES TO THE CRISIS PROINVERSIÓN WILL RECEIVE BIDS FROM THE PRIVATE SECTOR FOR FOUR SANITATION PROJECTS SOUTHERN MINING CLUSTER WOULD ATTRACT US$ 14 BILLION IN INVESTMENTS BRITISH EMBASSY PRESENTS THREE CLIMATE ACTION PROJECTS TO BE IMPLEMENTED IN PERU PUBLIC INVESTMENT MARKS A RECORD RESULT IN THE FIRST QUARTER WB IMPROVES PERUVIAN GROWTH FORECAST FOR 2021 THE NEW CENTRAL HIGHWAY WILL BE CONNECTED WITH THE LONGITUDINAL DE LA SIERRA HIGHWAY PERU WILL HAVE THE LARGEST GDP EXPANSION IN SOUTH AMERICA THIS YEAR PERU RANKS SIXTH IN SOUTH AMERICA AS THE "MOST PREPARED" FOR STATE-OF-THE-ART TECHNOLOGIES A GUIDE TO DRAW INVESTMENT IN ENERGY PROJECTS IS PRESENTED LITHIUM ALSO FOUND IN CUSCO ANCON INDUSTRIAL PARK WILL HAVE 1,338 HECTARES FOR INDUSTRIAL, COMMERCIAL AND LOGISTICAL DEVELOPMENT PROJECTS FOR MORE THAN US$ 6 BILLION DRAW THE ATTENTION OF SPANISH INVESTORS THE GOVERNMENT PLACED BONDS AMOUNTING TO US$ 4,000 MILLION IN THE INTERNATIONAL MARKET PUBLIC INVESTMENT REACHED AN EXECUTION RECORD IN FEBRUARY CLARO AND ENTEL WILL DEPLOY 5G TECHNOLOGY FOR FIXED WIRELESS INTERNET COLOMBIA BETS ON INFRASTRUCTURE AND ENERGY PROJECTS AMOUNTING TO MORE THAN US$6 BILLION IN PERU CHINA WILL FURTHER ITS INVESTMENT IN PERU IMF INCREASES THE FORECASTED GDP GROWTH TO 9% IN 2021 MINING INVESTMENTS EXCEEDED EXPECTATIONS PORT MODERNIZATION INCLUDES NINE PROJECTS PROINVERSIÓN PROMOTES INFRASTRUCTURE PROJECTS TO EUROPEAN AND NORTH AMERICAN INVESTORS MEF MAINTAINS A 10% GROWTH RATE FOR 2021 PROINVERSIÓN HAS JOINED THE WORLD ASSOCIATION OF PPP UNITS AND PROFESSIONALS ELECTRICITY SECTOR PLANS AMOUNTING TO US$ 6,025 MILLION PROINVERSIÓN EXPECTS TO AWARD PROJECTS AMOUNTING TO US$ 2.5 BILLION THIS YEAR PROINVERSIÓN CALLS AN INTERNATIONAL BIDDING FOR THE ANCÓN INDUSTRIAL PARK PROJECT PERU WILL LEAD INVESTMENT IN THE NEXT THREE YEARS PROINVERSIÓN CALLS AN INTERNATIONAL COMPETITIVE BIDDING FOR THE ANCÓN INDUSTRIAL PARK PROJECT THE MTC WILL PROMOTE INVESTMENTS AMOUNTING S/ 1580 MILLION IN DIGITAL CONNECTIVITY PRIVATE INVESTMENT WILL GROW 17.5% THANKS TO MORE THAN 30 PROJECTS WB: PERUVIAN ECONOMY WILL GROW 7.6% IN 2021 PERU IS ONE OF THE COUNTRIES WITH THE GREATEST MACROECONOMIC STRENGTH INTERVIEW TO WALDO MENDOZA, REPRESENTATIVE OF THE MINISTRY OF ECONOMY AND FINANCE MINA JUSTA PORT TERMINAL IS READY PERUVIAN ECONOMY RECOVERS FAST PROINVERSIÓN PROMOTES OECD GUIDELINES FOR RESPONSIBLE BUSINESS CONDUCT IN THE MINING SECTOR PERU WILL LEAD GROWTH THE CONSTRUCTION OF SEVEN MINING PROJECTS REQUIRING AN INVESTMENT OF US$ 3,577 MILLION WILL BEGIN IN GREATER PROMOTION OF MEGA-PROJECTS ProInversión calls an international public bid to grant in concession the Puerto Maldonado WWTP INFRASTRUCTURE PROJECTS ARE PROMOTED BEFORE POTENTIAL INVESTORS FROM ASIA AND OCEANIA INFRASTRUCTURE CONTRIBUTES TO ECONOMIC REACTIVATION GOLD FIELDS WILL START WORKS FOR A LONGER LIFE OF CERRO CORONA IN 2021 WORKS BY THE MARITIME OF THE CHANCAY PORT WILL BE AWARDED IN NOVEMBER PROINVERSIÓN presents investment opportunities for more than US$ 5.6 billion to European, Asian FIFTY UK COMPANIES INTERESTED DRILLING RESTARTED AT ANTAKORI PROINVERSION Calls for public tender the 500 kV Transmission Line Piura Nueva - Frontera Substation BIDDERS OF THE WIDE-SCALE USE OF NATURAL GAS PROJECT REQUEST DEADLINE EXTENSION DUE TO THE PANDEMIC MTC PREPARES FOR END OF THE YEAR A PUBLIC CONSULTATION OF 5G BANDS IN PERU IMPROVES PROJECTION OF FOREIGN DIRECT INVESTMENT PROINVERSION PRESENTED THE PUERTO MALDONADO WWTP PROJECT TO INVESTORS INFRASTRUCTURE INVESTMENT IS CRITICAL TO RECOVERY THREE MINING PROJECTS ARE EXPECTED TO START OPERATIONS PERU PROVIDES 27% OF THE COPPER REQUIRED BY THE CHINESE INDUSTRY DEGREE OF INVESTMENT AND STABLE OUTLOOK BEGINS THE PROCESS TO AWARD THE ANCÓN INDUSTRIAL PARK IN MARCH BEGINS THE PROCESS TO AWARD ANCON INDUSTRIAL PARK PERU'S GROWTH BASES ARE VERY SOUND BCR: IT IS CRUCIAL TO ACCELERATE INVESTMENT SPENDING PROINVERSION WILL WORK ON THE NEXT CHOQUEQUIRAO PROJECT CALL PROINVERSIÓN: PPP PORTFOLIO INVESTMENTS AND PROJECT IN ASSETS WORTH US$ 5.5 BILLION PRESIDENT VIZCARRA ANNOUNCED CONSTRUCTION OF LIMA METRO LINES 3 AND 4 THE KEY ROLE OF MINING IN THE RECOVERY PRODUCE PROMOTES 16 INDUSTRIAL PARKS PORTFOLIO FOR US$ 673 MILLION RECOVERY OF PUBLIC WORKS AS A BUSINESS OPPORTUNITY THE ECONOMY IS REBUILDING PERU SHOULD FOSTER PRIVATE INVESTMENT TO REVIVE THE ECONOMY GOVERNMENT AIMS TO INCREASE INVESTMENT THROUGH WORKS FOR TAXES ELECTRICAL PROJECTS IN PROGRESS PROINVERSION APPROVES FINAL VERSION OF THE CONTRACT OF THE WIDE-SCALE USE OF NATURAL GAS PROJECT PERU AND FRANCE, TOGETHER FOR HEALTH "IT'S NOT ONLY RECONSTRUCTION BUT ALSO PREVENTION" INTERVIEW WITH RAFAEL UGAZ, EXECUTIVE DIRECTOR OF PROINVERSIÓN PROJECTS FOR USD 5 BILLION ARE BEING ADVANCED GOVERNMENT BETS ON INFRASTRUCTURE INVESTMENT TO GENERATE EMPLOYMENT PERUVIAN ECONOMY WOULD FALL 12.5% PUBLIC INVESTMENT WILL BE THE ENGINE OF REACTIVATION" CONCESSION IS EXPANDED IN SAN MARTÍN THE PRODUCTION OF THE LARGE MINING COMPANIES WILL REACH 100% IN JULY IMF APPROVED A PREVENTION LINE OF USD 11 BILLION FOR PERU THE GOVERNMENT EXTENDED THE STATE OF EMERGENCY UNTIL JUNE 30 REQUEST FOR EXPRESSIONS OF INTEREST FOR TECHNICAL CONSULTANCY "1,750 - 1,780 MHz and 2,150 - 2,180 NATIONAL INFRASTRUCTURE PLAN WILL BOOST JOB CREATION PERU HAS GOOD CONDITIONS TO RESUME ECONOMIC GROWTH EUROPEAN COMPANIES EXPECT TO PLAY A KEY ROLE IN PERU'S ECONOMIC RECOVERY LEGAL STABILITY AGREEMENTS FOR THE EXECUTION OF THE CHANCAY PORT ARE SIGNED 56 PROJECTS WILL BE RESUMED FOR MORE THAN S/9,000 MILLION INFLATION WILL CONTINUE TO FALL AND CLOSE THIS YEAR AT ABOUT 1%. S&P RECOGNIZES PERU'S MEASURES SIEMENS IS EVALUATING HYBRID ENERGY PROJECTS FOR EARLY NEXT YEAR SALE OF LUZ DEL SUR CONCLUDED FOR US$ 3.59 BILLION MEF: ECONOMIC RECOVERY TO START FROM THE THIRD QUARTER COSCO SHIPPING PREPARES AUCTION FOR FUTURE PORT OF CHANCAY TWO LARGE ELECTRICITY SUBSTATIONS WILL BE BUILT IN ICA TO REACTIVATE THE ECONOMY MINISTER ALVA EXPLAINS ECONOMIC MEASURES MEF: "BOND ISSUE FOR US$3 BILLION WAS A SUCCESS" ECONOMIC ACTIVITIES WILL BE GRADUALLY RESUMED IN MAY BCR LOWERED ITS INTEREST RATE TO THE LOWEST IN ITS HISTORY PERU IS THE EMERGING COUNTRY WITH THE GREATEST FISCAL RESPONSE ECLAC UNDERLINES PERU'S MEASURES AGAINST COVID-19 THE LARGEST LATIN AMERICAN PLAN TO FIGHT THE COVID-19 PANDEMIC IS BEING IMPLEMENTED IN PERU MEF: "WE HAVE SAVINGS TO FACE THE CRISIS" "WE WANT TO WIN THE SIETE REGIONES PROJECT AND SOUTHERN GAS PIPELINE" GOVERNMENT DECREES MANDATORY SOCIAL ISOLATION TO REDUCE THE IMPACT OF CORONAVIRUS MODERNIZATION WORK ON THE PORT OF SALAVERRY BEGINS $57,000 MILLION IN MINING PLANS SUBMITTED PDAC 2020 SPECIALIZED EXHIBITION. PROINVERSIÓN APPROVED THE FINANCIAL CLOSING OF THE SALAVERRY PORT RISK COUNTRY OF PERU STANDS OUT IN INTERNATIONAL MARKETS PUBLIC INVESTMENT WILL MITIGATE EXTERNAL SHOCKS 90 MILLION WILL BE INVESTED IN THREE ELECTRICAL TRANSMISSION LINK ROADS NEW CO-FINANCING SCHEME OF HUANCAYO-HUANCAVELICA RAILWAY IS INTRODUCED NEW CO-FINANCING SCHEME OF HUANCAYO-HUANCAVELICA RAILWAY IS ANNOUNCED FOREIGN INVESTMENT FINANCES 81% OF THE MEGAPROJECTS PPP PROJECTS WILL DRIVE ECONOMIC GROWTH PRIVATE INVESTMENT WOULD GROW BY MORE THAN 3% PERU AMONG THE BEST PLACES FOR SPANISH INVESTMENT "ECONOMY GREW 2.16% IN 2019 PERU IS ONE OF THE MOST ATTRACTIVE MARKETS FOR INVESTMENT IN LATIN AMERICA PROINVERSION HAS THREE PROJECTS IN PORTFOLIO PLATEAU ENERGY DEVELOPS STUDIES FOR LITHIUM PROJECT PERU: OVER 5% INCREASE IN PUBLIC INVESTMENT FORECASTED FOR 2020 CHINA COULD INVEST IN PERU US$ 10 BILLION MORE BCP ESTIMATES THAT PUBLIC INVESTMENT WILL GROW 8% IN 2020 PRE-INVESTMENT STUDIES FOR THE MONTERÍA AND SICÁN PROJECT WILL BEGIN IN JUNE SALAVERRY PORT TERMINAL ALREADY RECEIVES HEAVY LOAD SHIPS GOVERNMENT PRIORITIES NATURAL GAS WIDESPREAD MINING INVESTMENT TO BE ONE OF THE PILLARS OF THE ECONOMY PROINVERSION: WE HAVE A ROBUST, PREDICTABLE AND CREDIBLE PPP PROJECT PORTFOLIO RIO BRAVO PREPARES HYDROELECTRIC PLANT PROJECT SCOTIABANK AND MOODY'S ESTIMATE THAT GDP GROWTH WOULD BE AROUND 3% THIS YEAR THE BRITISH ARE HERE TO CONTINUE INVESTING INVESTMENTS IN PORT TERMINALS AND WAREHOUSES WILL CONTINUE

MEF KEPT 10% PROJECTED GROWTH FOR PERUVIAN ECONOMY FOR THIS YEAR

Lima, April 30, 2021.- The Ministry of Economy and Finance (MEF) kept its economic growth projection at 10% for this year, according to the latest Macroeconomic Projections Update Report 2021 - 2024, presented by the Minister of the sector, Waldo Mendoza.

It should be recalled that, in April last year, the MEF did not publish the update report corresponding to the period 2020 - 2023, because - the portfolio said at that time - the impact of the covid-19 pandemic did not allow it. However, in August 2020, the Multiannual Macroeconomic Framework 2021-2024 was published, which projected an increase in Gross Domestic Product (GDP) of 10%.
"The question arises as to why it recovers so quickly in the midst of a pandemic. In an economic crisis, credit also contracts. In normal times, credit grew at a rate of 6% a year, and in the middle of a pandemic - and so far - it has doubled or even tripled. This, in our opinion, is one of the reasons why we have recovered so quickly," says Mendoza.

The Minister of Economy recalled the programs approved such as Reactiva Perú and FAE-Mype, as well as the recent PAE-Mype. "It is often said that 10% is a statistical growth. But let's imagine that those credit programs had not existed. If the government, together with the BCR, had not granted that credit, companies would have gone massively bankrupt and therefore there would be no statistical recovery", he added.

Revenues and expenses
He also pointed out that, after registering a fiscal deficit of 8.9% of GDP in 2020, as a consequence of the pandemic, it will begin to be reduced going forward. For this year, it is estimated that the fiscal deficit will reach 5.4% of the GDP, linked to the level of expected revenues and expenditures, and only in 2024 it would reach 1.6% of the GDP.

Later, Mendoza stressed that it is necessary to maintain the country's fiscal sustainability. "How important is this? When we issue bonds, we borrow at the lowest interest rates in Latin America, it means paying less interest. Low sovereign interest rates spill over to private interest rates. That is the advantage of being fiscally responsible," he stressed.

Long term
For the 2022-2024 period, the GDP growth projection is maintained at 4.5%, sustained by domestic demand, the increase in exports due to the start of production of copper projects, the recovery of external demand, and the boost to competitiveness and productivity.

During this period, private investment would be boosted by the continuity in the execution of infrastructure projects such as Line 2 of the Metro de Lima and Callao, the Expansion of Jorge Chavez Airport, and the Chancay Port Terminal. Likewise, during this period, among other aspects, it is expected the start of construction of works prioritized under the Public-Private Partnership (PPP) scheme, mainly of the projects that are expected to be awarded in 2021, said the MEF.

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