Peruvian economy experiences positive growth

Peru’s Economic Minister Alfredo Thorne said Peru's economy grew 4.3 percent due to mining and public spending. Mining production grew by about 26.9 percent during the first half of 2016, which in turn supported Peru’s 2.5 percent GDP growth. Despite recession Latin American, Thorne explains promotion of private investment and improved productivity will continue to help Peru grow (La Republica). Public investment also increased by 20 percent; however, Thorne is concerned that private investment continues to fall despite high expectations and thus, needs to be given more attention. On the plus side, the economy grew by 5.52 percent in August 2016 due to a series of favorable factors, including growth in the primary sector by 15.9 percent and fishing by 66 percent. Peru desires to close its infrastructure gap by 50 percent in the next five years with a major set of projects costing US$18 billion over the course of two years (Andina).