Peru economy grows 3.79% in March, weighed down by mining protests
2022.05.15 19:41
FILE PHOTO: Members of the indigenous community of Fuerabamba sit near half built houses near the entrance to the Las Bambas copper mine, in Apurimac, Peru May 6, 2022. REUTERS/Angela Ponce/File Photo
LIMA (Reuters) – Peru’s economy grew 3.79% in March compared with a year earlier, the country’s statistics agency said on Sunday, with most sectors of the economy showing improvement, while the key mining industry shrank due to social conflicts hitting production.
Peru is the world’s No. 2 copper producer, but protests from indigenous communities in the Andes demanding higher benefits from the mining industry have affected production.
In March, Southern Copper (NYSE:SCCO) Corp’s Cuajone copper mine was halted throughout the month.
The economic growth is lower than the 4% the central bank had forecast in a press conference on Friday.
Peru’s finance ministry expects the economy to grow 3.6% in 2022.
