Peru Deputy Minister: GDP to expand by 5% in 2016

(Andina) Peru will expand above 5% in 2016 thanks to the construction of relevant infrastructure projects, such as the Lima Metro Line 2 and the Gasoducto Sur Peruano (Peru’s Southern Gas Pipeline), the Deputy Minister of Economy Enzo Defilippi forecasted.

“[…] we must construct, and this influences on the domestic demand,” he pointed out.

Total investments

The Deputy Minister indicated the Lima Metro Line 2 involves an investment worth US$6.783 billion.

Likewise, throughout previous months the government has unlocked infrastructure project investments worth US$1.051 billion, which will contribute a 0.54 percentage point to GDP in 2015.

Project

He indicated the unlocked amount comprises five projects: Lima Metro Line 2, Arequipa-based Majes Siguas II and the optical Fiber National Backbone, among others.

The investment of a total five projects amount US$8.019 billion; US$1.051 of which are to be executed this year.

It must be noted the Majes Siguas II project will allow opening up 38,500-hectare farmland to boost the country’s development by generating hydropower and 200,000 new jobs.