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Peruvian GDP will grow 2% in 2024 thanks to private investment, estimates Credicorp

Peruvian GDP will grow 2% in 2024 thanks to private investment, estimates Credicorp

The rebound expected for next year will be boosted by projects such as the Port of Chancay, the expansion of the Jorge Chávez Airport and Line 2 of the Metro.

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Credicorp expects the Peruvian economy to close this year at 0%, and by 2024, they estimate that it will rise 2% thanks to the contribution of private investment.

In the words of Miguel Leiva, vice president of Variable Income Research at Credicorp Capitalnext year’s rebound would be driven by mega projects such as the Port of Chancay, the expansion of the Jorge Chávez Airport and Line 2 of the Lima Metro.

In addition, he highlighted the importance of the mining sector in unblocking projects and selling minerals such as gold, silver and copper; and given its good performance, “it will also help improve the results of the companies and the profits of the local stock market.”

Investment trends

Leiva recalled that in terms of investment, defensive sectors such as retail and electricity are preferred, although there are also bets on mining “to diversify local risk.”

Otherwise, food companies have been damaged by the weakness of GDP due to greater discretion in spending on non-essential goods and increases in cost.

Likewise, Leiva pointed out that “it is a good time to invest in the Lima Stock Exchange” because equities have good relative attractiveness: the profitability differential is 4.2%, when it is usually 2%. .

ABOUT THE AUTHOR:

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Graduated from the Jaime Bausate y Meza University. In constant learning. Previously in Mundo, but now I write about economics in the newspaper La República.

Source: Larepublica

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