JP Morgan sees Peru’s 2015 economic growth at above 5.5%
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JP Morgan sees Peru’s 2015 economic growth at above 5.5%
Peru’s economy is set to go back to growth levels above 5.5 percent by 2015 fuelled by the ramping up of the largest mining projects, accelerating investment and strong consumption, Investment financial bank JPMorgan Chase (JPM) has reported. “There are high expectations regarding the positive impact of the ramp-up of Toromocho’s production, which coupled with an acceleration in investment (both public and private),” JPM’s Latin America Equity Research said in a report which was put out Monday.
The United States-based New York-headquartered bank continued, “This is consistent with improving levels of business confidence, and a still strong consumption should boost the Peruvian Gross Domestic Product’s (GDP) growth next year”.
The research firm stressed the above forecast have led to leading investors from around the region to have an overall positive view regarding the performance of Peru’s economy by the end of the current fiscal year.
In this regard, JPM noted its senior economist analysts have found a high level of confidence from the Peruvian companies, authorities and private economists, regarding the significant pick-up in activity that should be seen next year. From 10th through 11th September, Peru was on the spotlight of more than sixty-five top investors from countries across Latin American and the Caribbean during the third edition of the Southern Cone & Andean Conference which took place in the nation’s capital Lima.
At the two-day conference, Peruvian policy makers, economists and portfolio managers from the region delivered keynote speeches on the current trend of a broad range of sectors including capital goods, retail, financial services, TMT and transportation.
Over 300 one-on-one meetings between firms from Chile, Colombia and Peru were carried out at this year’s meeting which as usual is organized by JPM with the aim of raising awareness of the region’s growing equity market.
This article was sourced from the September edition of Latam News, the monthly newsletter of the Australia-Latin America Business Council
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