It was estimated that it would remain at 0%, but, after falling 2.5% in the fourth quarter, in the annual accumulated the contraction was 0.5%.
During the fourth quarter of 2022, private investment contracted 2.5% as investment in mining fell (-12.3%), mainly according to the Central Reserve Bank of Peru (BCRP)totaling US$1,650 million, an amount that is US$77 million less than the same period in 2021.
So, private investment fell 0.5% in 2022 as a result of political uncertainty and social conflicts, which impacted business expectations — which were located in the pessimistic tranche almost the entire year —.
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In said period, investment in mining fell 5.5%. Meanwhile, the non-mining sector grew barely 0.1%, relating these data to the drop in domestic cement consumption (-0.7%), terms of trade (-10.4%) and imports of capital goods (- 4.3%).
In this regard, the Minister of Economy and Finance (MEF), Alex Contreras, pointed out this Thursday that, by 2023, private investment is expected to grow 3%, for this, it is key that in the short term “new engines are generated of growth and invite investors to come again”.
Source: Larepublica
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