Weekly Report - 25 July 2024 (WR-24-29)

Peru is poised to embark on a new economic cycle of growth of between 6%-7% a year, the economy & finance minister, José Arista, confidently predicted on 17 July. Peru tipped into recession in 2023 and GDP growth this year is expected to be solid but by no means spectacular, as ever-present political instability drags on investment, so the reason for Arista’s buoyant mood is not readily apparent. His optimism is based on continued high global demand for copper and the impending inauguration of a mega port in Chancay, a small city north of Lima, which the government hopes will transform trade with China.

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