Construction sector would have fallen more than 10% until April 2023

The construction It is in one of the sectors that has had the worst performance so far this year. In the first quarter, it fell 11.5%, its largest contraction since July 2020, during the COVID-1 pandemic9. The negative result would have continued in Aprilwith a monthly fall of 10.8%, esteem Guido Valdiviaexecutive director of the Peruvian Chamber of Construction (Capeco).

While the cumulative figure in the first four-month period would be a 10.6% reduction. These results consider a 9.1% increase in investment in public works, a sector that fell 3% in March, after nine months of consecutive growth; they also take into account a drop of -17.3% in cement consumption.

“The preliminary figures, which may change, tell us about a 9% growth in the execution of public works, with these two figures it is likely that in April it will end with a 10.8% drop and if we add the first four-month period we are already in a drop of 10.6%, a very strong figure after a third of the year has passed”, said Valdivia during the presentation of the latest Construction Economic Report (IEC #65).

Mortgage loans also fell

He disbursement of mortgage loans has retracted by 24.8% at the end of the first quarter, which is explained by the drastic 34.4% decrease in loans granted by financial institutions with their own resources, although operations funded by Mivivienda SA also suffered a slight drop in 0.5% and reached a participation of 37.3% in the granting of these credits, nine percentage points more than in the period January-March 2022.

“It is necessary for the Ministry of Housing to exercise its authority as the national governing body in terms of urban planning and urban development, to promote social housing in all urban areas where possible, and especially in the districts of middle and middle strata. -highlands of Lima and the main cities of Peru”, indicated Valdivia in his latest Construction Economic Report.

He added that the necessary resources must be secured to maximize the operating levels of the Techo Propio and Mivivienda programs, which could reach a new record this year.