Peru president raises 2017 economic growth view to 5 percent

Peru's economy will grow by 5 percent next year, not the 4.8 percent previously forecast by the government, President Pedro Pablo Kuczynski said in an interview with a local newspaper published on Monday. "I don't believe in those forecasts that say we're going to grow 4.2 percent or 4.4 percent" next year, Kuczynski was quoted as saying in financial daily Gestion. "There'll be a reactivation of private investment here."
Kuczynski's office confirmed the accuracy of the quotes in the newspaper interview. The economy grew by a weaker-than-expected 2.12 percent in October, compared with the year-earlier month, dragged down by a drop in government infrastructure spending that prompted a steep contraction in construction.