The head of the Ministry of Economy and Finance (MEF), Alex Contreras, affirmed that private investment collapsed in the first quarter of 2023 due to social conflict and the impact of rains and mudslides, during the presentation of the Projection Update Report macroeconomic 2023-2026. In this way it is observed that the investment falls by 13%.
“In terms of private investment, for example, we estimate that as a result of social conflict plus the negative impact of disasters [naturales] private investment practically collapsed in the first quarter as a result of the conflictit is a drop that we have not observed since the financial crisis of 2009, without considering the effect of the pandemic,” Contreras said.
It should be remembered that private investment fell by 0.5% at the end of 2022, so the projection for this year is that it stays that way. while by 2024 it is projected to reach 3%, since measures are being implemented to strengthen investments that will sustain its growth for the following years.
Quarterly evolution of private investment according to the Ministry of Economy and Finance. Photo: MEF
In recent months, important investments have been ratified with a total value of more than US$10,000 million, most notably the La Granja mining project (US$5,000 million), the Michiquillay exploration project (US$2,500 million) and the Antamina extension (US $2,000).
Source: Larepublica
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