The economic recovery in Q3 has extended into Q4. During Q3, private investment showed clear signs of recovery, with a 4% growth compared to the same quarter in 2023, the highest rate in three years. This increase was associated with a relatively optimistic level of business confidence, lower corporate financing costs, and the progress of large infrastructure projects such as the Chancay port, Line 2 of the Lima Metro, and the expansion of the Lima Airport and the Muelle Norte in Callao. In fact, the machinery acquired for the Chancay port accounted for around a fifth of the growth in capital goods imports in the quarter.
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Analyst
Last week, Congress removed Energy and Mines Minister Rómulo Mucho from office with 80 votes in favor, 4 against, and 10 abstentions. Of the 13 parliamentary groups in Congress, 11 supported the motion.
A distinctive feature of the Boluarte government has been its tendency to give in to pressure from protest groups with the capacity to mobilize.
During the month of August, attention was focused on the dynamics within Congress. In view of the election of the Board of Directors and the recomposition of the ordinary commissions, numerous movements were recorded in the benches.
