“We’re talking about 4.3% (growth),” Mr Burneo said in a Reuters interview, an unreleased figure that comes after the government unveiled an economic package which he says will significantly boost economic growth. economy.
“The results depend on things like how long it takes Congress to approve our package,” Burneo added.
Bullish expectations build on already optimistic forecasts. Peru’s finance minister said in August that the country would grow by 3.5% in 2023, which is much higher than the average estimate of 2.8% compiled by Refinitiv.
Peru is the world’s second largest producer of copper and Mr Burneo said he wanted to facilitate the opening of new mines and expansions. It has met with Newmont Mining Corp and plans to do so again, he added, in hopes of securing its $2 billion Yanacocha Sulfuros project.
Mr. Burneo has made reviving economic growth his main priority in the context of a slowing global economy. He unveiled a package of measures on Thursday including grants, cash transfers and increased public spending.
The Peruvian economy has also been affected by political unrest under President Pedro Castillo, who campaigned on a far-left agenda that spooked investors before he moderated it once in office.
Burneo is himself a centre-left economist who was a member of the board of directors of the central bank and a former deputy minister of the economy.
He added that the minister’s current forecast of 3.3% growth for this year is “cautious” and could be higher thanks to the initial impact of his economic package.