Peru is on track to be the fastest growing country in Latin America this year, despite some difficulties that may arise in the mining sector, said Economy and Finance Minister Luis Miguel Castilla.
In an interview with CNN, Minister Castilla recalled that Peru had one of the highest growth rates (6.92 percent) in Latin America in 2011, and “it could repeat that result this year.”
To that end, he pointed to the need for increased consumption, fiscal stimulus and private investment, “which is certainly a major factor in our growth prospects for this year.”
Castilla said mining problems are not unique to Peru and the government is trying to resolve them through dialogue and mutual understanding.
“This does not preclude the possibility that the country can grow at high rates in the coming years,” he added.
The Ministry of Economy and Finance (MEF) has recently revised its projected growth rate for this year to 5.7% from its previous 5.4%.
Minister Castilla led a delegation of government officials and business executives from Peru during the second annual Peru Day at the New York Stock Exchange (NYSE) on Friday.