October 19, 2017 / 1:52 PM / in 2 months

Peru economy to grow 4.2 percent in 2018 - gov't official

SANTIAGO, Oct 19 (Reuters) - Peru’s economy will likely grow 4.2 percent in 2018 due to an increase in public and private investment and rising metals exports, Prime Minister Mercedes Araoz told business leaders in Santiago on Thursday.

The government had forecast growth of 4 percent in August. Once one of Latin America’s fastest growing economies, Peru’s growth slowed sharply early this year in the wake of destructive flooding and a graft scandal that stalled public work projects.

“Our expectation is for growth of between 2.7 and 2.8 percent in 2017 and for next year we believe we will surpass 4 percent, 4.2 percent for 2018,” she said. (Reporting by Felipe Iturrieta; Writing by Caroline Stauffer)

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