The Peruvian Chamber of Construction (Capeco) projected that, at the end of this year, the construction sector would report a growth of 30%, despite the estimated drop of 2.2% in October.
“Despite the fall in October, the forecast will be fulfilled, something very complicated would have to happen for that not to happen, the execution level could be reduced by 2% in the last quarter and somehow 30% growth would still be achieved, that goal is not in discussion”Stated Guido Valdivia, Capeco’s executive director, during the presentation of the Construction Economic Report.
In detail, the expert specified that between January and September the construction sector reported an accumulated growth of 63.8%, however, the result for the last quarter would be negative.
“It is likely that the fourth quarter will end in the red, but that does not mean that we have a cumulative growth of about 30%. The first quarter of next year will also be impacted by what has happened in the first quarter of this year, because there has been a high level of growth, and that could also hinder the growth of this segment, “said Valdivia.
Likewise, the director of Capeco detailed that public works would grow around 20% in 2021 and 5% in 2022. However, until the end of October, the execution levels for projects and works barely exceed 50% of the modified budget, once again showing problems structural.