7.4 C
New York
Sunday, December 4, 2022

Latest Posts

MEF: private sector will invest S/ 116,000 million in 2022

- Advertisement -

During 2022, the private investment would reach S/ 116,000 million in real terms, a level similar to that achieved in 2021, according to estimates by the Ministry of Economy and Finance (MEF) in its Macroeconomic Projections Update Report (IAPM) of the Multiannual Macroeconomic Framework (MMM) 2022- 2025.

- Advertisement -

Although a null variation rate (0%) would be recorded in 2022, the FEM clarifies that there are scheduled investments in the mining sector and infrastructure.

And indeed, the economist Armando Mendoza explains that 0% growth does not mean that there will be no investments this year, but rather that these will not be greater than those registered in 2021. However, he adds that the results could be better if the current government had sustainable agreements and there is more stability in the different ministerial portfolios.

It is important to mention that the current projection of the MEF is aligned with that of the Central Reserve Bank of Peru (BCRP) who also estimates that private investment will have a variation of 0%.

- Advertisement -

Julio Velarde, president of the monetary entity, said at the time that private investment continues to be strong and, if compared to what was registered in 2019 (pre-pandemic), growth in said indicator would be observed.

Mining projects

In detail, mining investment is expected to grow 3.2% during the current year, supported by projects under construction such as Quellaveco, the Toromocho Expansion (phase 2) and the Shouxin expansion, which would execute amounts of around of US$ 1,400 million in its last year of works prior to the start of its operations.

Added to this is the investment made to sustain the mines that are currently in operation, which will reach US$3.5 billion in 2022. the start of construction of new projects with a total commitment of US$ 3,900 million is expected.

non-mining investment

Regarding investment in infrastructure, the MEF indicates that this would reach the highest level since 2016, in line with the acceleration in the execution of large projects whose total investment commitments exceed US$11,000 million.

Some of the main projects that would continue to be executed would be Line 2 of the Lima and Callao Metro (US$ 5,346 million); the Expansion of the Jorge Chávez Airport (US$ 1,200 million); Chancay Port Terminal (US$ 3 billion); Muelle Sur Bicentenario Port Terminal (US$ 731 million); Nueva Yanango-Nueva Huánuco (YANA) and Mantaro-Nueva Yanango-Carapongo (COYA) transmission links (US$592 million); and the Autopista del Sol (US$ 493 million).

In addition, residential investment associated with formal housing would be similar to the level reached in 2021, supported by the greater development of projects, promotion of social housing and the remaining savings from the financial resources released last year, in line with the growing demand reflected in the increase in mortgage loans.

According to an ASEI survey, 52% of real estate companies expect to increase their investment in new projects during 2022.

Line 2 of the Lima Metro will have luggage racks. Photo: MTC

Public investment on the rise

The MEF estimates that public investment will grow 11%, driven by measures related to budget allocations, administrative streamlining, capacity building and greater participation of the private sector. It is also due to the recent measures approved.

reactions

Julio Velarde, president of the BCRP

“Many times one has the impression that when one says 0% growth, there is no investment, what happens is that it is not growing compared to the previous level”.

Pedro Castillo, President of the Republic

“We promote public and private investments so that Peru has more and better jobs with fair wages, recognized and protected rights for all.”

Source: Larepublica

- Advertisement -
spot_imgspot_imgspot_img

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.