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Minister: Peru's economy is expected to grow by up to 3.5% per year in 2025

Economy Minister Raul Perez stated on Tuesday that Peru's economic growth is expected to be between 3.0% to 3.5% by 2025. This is lower than what the government previously predicted and compares to the 3.33% recorded last year.

Perez said at a press event that he didn't see "severe risk" for Peru's economic future from the United States tariff policies.

The Minister's Estimate is higher than the Central Bank's forecast for 2.9% growth in late June, but lower than earlier estimates by the government that projected a 3.5%-4% expansion.

Peru's economy has been one of Latin America’s best performers for decades. But in recent years, growth has slowed due to social unrest that hit the mining sector and political instability.

Perez stated that his ministry would meet with executives of the embattled Petroperu to ensure that its cash flow remained "viable."

The company, which was seeking alternative sources of funding to avoid relying on more state aid, reported a net loss of $111 million in the first quarter of this year. (Reporting and editing by Natalia Siniawski, Alison Williams and Marco Aquino)

(source: Reuters)