Peru Maintains 3.6% Growth Forecast for 2022 Despite Slowdown Concerns

Peruvian Finance Minister Oscar Graham said on Thursday that he still expects the country's economy to grow 3.6% in 2022, reiterating an earlier forecast despite growing concerns about the potential for a worldwide economic slowdown, Reuters reported. "With the information we have from the first four months, we still maintain the 3.6% forecast, however this is a (figure) that is under constant review," Graham said in a conference with the foreign press. Graham said the figure could be revised in August, when Peru usually updates its multi-annual economic forecasts. Peru is one of Latin America's most stable economies and the world's No. 2 copper producer. While copper prices have fallen in recent weeks, Graham said they are still within expected parameters. Anglo American has recently opened its large Quellaveco copper mine, which Graham expects will contribute 0.4 percentage points to Peru's gross domestic product this year and 1.0 percent in 2023. Read more.