Peru's President Dina Boluarte was upbeat about the country's economy in an independence day speech to Congress, predicting higher-than-expected economic growth and saying she would formally call elections planned for 2026 by next April, APA reports citing Reuters.
Boluarte, who faces accusations of corruption and abuse of power, took office late 2022 after the ouster and arrest of predecessor Pedro Castillo who tried to dissolve Congress, but protests in the first few months of her administration left at least 50 people dead and slowed the key mining sector.
The economy contracted some 0.6% last year, hit by extreme weather fueled by the El Nino weather phenomenon and lower private investment, but this year Boluarte predicted it will surge above the 3.1% predicted by the country's central bank.
"This solid performance reflects the resilience of the Peruvian economy. We committed to recovering our growth capacity and we are on that path," Boluarte told Congress.
Boluarte's government has spent millions of dollars to boost mining after investment in the sector fell 10% last year.
She also announced plans to allocate 17 infrastructure projects worth $3.2 billion in the rest of 2024, along with plans to create a new infrastructure ministry to boost investment.
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