LIMA, June 25 (Reuters) - Peru’s economic growth rate in the second quarter will likely be weaker than the 4.8 percent year-on-year expansion logged in the first three months of the year, the finance minister said on Wednesday.
Luis Miguel Castilla added that preliminary data shows sluggish economic growth picking up after April, when the global minerals exporter posted a 2 percent expansion from the same month a year prior.
April’s growth rate was the weakest in nearly five years.
“Growth in gross domestic product in May is going to be greater than in April,” Castilla said during a congressional presentation.
The 4.8 percent rise in GDP in the first quarter was one of the slowest quarterly expansions in Peru in years.
The Andean country’s economy, one of the most robust in the region, has slowed from expansions topping 6 percent over much of the past decade because of tumbling mineral exports. (Reporting by Dante Alva; Editing by Chizu Nomiyama)