Peru’s economy is expected to continue growing for at least another 15 years, according to the Lima-based bank Latin Pacific Capital.
LPC’s vice-president, Emilio Zuñiga, said growth is expected to continue at levels of five percent because of the potential for expansion, particularly in infrastructure.
Peru is still behind Brazil, Chile and Colombia in infrastructure, Zuñiga told the state news agency Andina.
Business associations in Lima and investors are hoping that the Government’s plan to streamline bureaucracy will boost investment.
“There are a large number of controverting regulations and institutions, which generates a delay in investment permits, and the regulations we have are absurd,” Zuñiga said.
Peru has seen consistent growth for the past 15 years, making its economy one of the most solid and dynamic in the region.