Peru's Economic Resurgence: Forecasts and Challenges

Peru's GDP is projected to grow by 4% this year, making it the second-fastest growing economy in Latin America. Despite recent challenges, the government anticipates reduced inflationary pressures and increased investments by 2025, boosted by anticipated high mineral export prices and relaxed regulations.

Peru is poised for a significant economic rebound, with forecasts suggesting a 4% GDP growth, marking it as Latin America's second-fastest growing economy this year, officials announced on Monday.

Considered a top performer for decades, Peru's economy had slowed recently due to social unrest and political instability affecting its mining sector. Economy Minister Jose Salardi highlighted the positive outlook based on expected high prices for key mineral exports, copper, and gold, coupled with regulatory reforms to encourage investment.

Surpassing only by Argentina, Peru's growth prospects remain strong. The Economy Ministry also predicts a stable inflation rate of 2% and aims to reduce the budget deficit, maintaining a prudent fiscal path.

(With inputs from agencies.)