Possible economic growth of 5% in May: Optimism and projections for the Peruvian economy

The Minister of Economy and Finance, José Arista, announced in a press conference after the Council of Ministers session that the Peruvian economy could experience a growth of up to 5% in the month of May. This projection is based on the solid performance observed in April, where economic growth reached 5.28%, surpassing initial expectations. Arista highlighted that various sectors have contributed to this positive growth, such as fishing and tourism. In particular, he mentioned that fishing would have contributed 0.8% to the Gross Domestic Product (GDP) in May, while the tourism sector shows signs of recovery, further boosting economic expansion. The minister pointed out that preliminary figures from the Ministry of Economy and Finance, private consulting firms, and the Central Reserve Bank indicate a growth close to 5% in May. However, Arista emphasized that confirmation of this projection will come with the official report from the National Institute of Statistics and Informatics (INEI). One of the reasons behind this positive outlook is the execution of the Tía María mining project, which has generated favorable expectations in the country's mining sector. Arista explained that this initiative not only aims to exploit Tía María in the coming years but also includes investments in other mining deposits and the construction of a new refinery, with a total estimated investment of 10 billion dollars. The news of a possible 5% economic growth in May has been received with optimism by analysts and entrepreneurs, who see in these data an encouraging sign for the economic recovery of the country after the negative impacts caused by the COVID-19 pandemic. It is expected that this boost in economic activity will generate more job opportunities and improve the living conditions of the population. Amidst this encouraging outlook, Arista also emphasized the importance of maintaining solid economic policies and continuing with structural reforms to ensure sustainable growth over time. Likewise, he highlighted the need to promote private investment and encourage economic diversification to reduce dependence on specific sectors. While these projections are a reason for optimism, the Minister of Economy and Finance emphasized the importance of constant monitoring of the economy's evolution and being prepared to face possible challenges that may arise in the future. In that sense, he stressed the importance of coordination between the public and private sectors to promote sustainable and equitable economic growth. In conclusion, the announcement of a possible 5% growth in May reflects the good moment that the Peruvian economy is going through and the confidence in its recovery capacity. However, it is necessary to continue working on measures that promote economic development inclusively and sustainably, ensuring that the benefits reach all sectors of society and contribute to the overall well-being of the population.