Positive economic outlook in Peru: 5% growth in May

The Minister of Economy and Finance, José Arista, has indicated that the Peruvian economy could experience a growth of up to 5% in the month of May. This positive projection is based on the strong performance that various economic sectors have been showing in the country, such as fishing and tourism, as reported during a press conference following the session of the Council of Ministers. Arista highlighted that in April, the Peruvian economy recorded a growth of 5.28%, which is an encouraging indicator for the country's economic outlook. He also mentioned that preliminary figures indicate that May has also been positive, with a potential growth range between 4.5% and 5%, leaning towards the upper end of this estimation. The contribution of the fishing sector in May has been 0.8% of the Gross Domestic Product (GDP), a relevant figure that adds to the good performance of other sectors, including tourism, which is undergoing a process of reactivation in the country. These factors together support the optimistic projection of economic growth for the current month. Minister Arista also emphasized the importance of the execution of the Tía María mining project in boosting the Peruvian economy. This initiative has generated positive expectations in the mining sector, attracting the interest of promoters of other projects such as Michiquillay and Galeno, who have shown willingness to develop mining deposits in the country. Regarding the Tía María project, it has been announced that the promoters not only have plans to start exploitation in the near future, but also intend to make significant investments in different mining deposits, as well as the construction of a new refinery. It is estimated that the total investment in this project and others related could reach 10 billion dollars, which represents a significant boost for the mining sector and the economy as a whole. While these preliminary data are encouraging, Minister Arista emphasized that the confirmation of economic growth in May will be subject to the official report from the National Institute of Statistics and Informatics (INEI). However, the positive trend that is emerging from the estimates of the Ministry of Economy and Finance, private consulting firms, and the Central Reserve Bank, suggests a promising outlook for the Peruvian economy in the coming months. In conclusion, Minister José Arista's advance notice of possible economic growth of up to 5% in May reflects an optimistic scenario for the country, supported by the solid performance of key sectors such as fishing and tourism, as well as the positive dynamics in the mining sector due to projects like Tía María. These indicators suggest that the Peruvian economy continues to show signs of strength and recovery, despite the challenges it has faced in the context of the pandemic and other external factors.