Figures released by the Central Reserve Bank of Peru (BCRP) show that private investment fell by 12% between January 2023 and March 2023 due to the distrust of the business community over the anti-government protests that took place between December 2022 and March 2023. 2023, may resume from July 19.
The contraction is only 1% less than the Ministry of Economy and Finance’s (MEF) estimate of a 13% contraction. The fall in investment was mainly concentrated in mining investment (23.2%) compared to other sectors of the economy (11%).
The BCRP report indicated that while mining investment reached US$835 million in the first quarter of this year, this figure was lower than the amount reached in the first quarter of 2022. The difference is US$198 million. .
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Therefore, Anglo American Quellavego invested only 87 million USD, that is, 230 million USD less than in the first quarter of last year; Las Pampas invested less than US$26 million due to the discontinuation of the southern mining corridor.
This contraction in private investment was sharper than the 12.8% fall in the third quarter of 2009 and excluding the years of the Covid-19 pandemic.