LIMA, Sept 24 (Reuters) - Peru’s economy will likely grow by “between 3.5 and 4 percent” this year, Central Bank President Julio Velarde said on Wednesday, below the bank’s previous estimate in August of around 4 percent.
Velarde gave his revised estimate in an email following a Bloomberg report that quoted him saying growth this year would likely be “closer to 3.5 percent.”
The central bank has trimmed its growth forecast several times this year from its initial estimate of 6 percent as the Andean country’s mineral exports have tumbled and private investment has ebbed.
The central bank has cut the benchmark interest rate three times over the past year to encourage growth.
The economy of the global minerals exporter expanded by 2.98 percent in the first seven months of 2014 compared to the same period a year ago.
Economic activity is widely seen as picking up somewhat in the second half of the 2014.
Reporting By Mitra Taj; Editing by Richard Chang