LIMA, April 28 (Reuters) - Peru’s economy likely grew 1.5 percent in the first quarter from the same period a year ago as public and private investment remained weak, the country’s finance minister said.
In a presentation to Congress late on Monday, Alonso Segura also reiterated that he expects the economy to grow by 4 percent in 2015.
The first-quarter’s year-on-year growth forecast would mark an uptick from the fourth quarter’s 1 percent growth but would still be far off the 5 percent expansion posted in the first quarter of 2014.
Peru’s mining-fueled economy has slowed sharply over the past year on weak mineral prices and falling investment.
President Ollanta Humala has responded by lowering tax rates, boosting spending and cutting red tape.
Prime Minister Pedro Cateriano, the seventh person to serve in the position since Humala assumed the presidency in 2011, asked Congress on Monday to give his Cabinet special powers to legislate additional measures to spur growth.
Congress approved Cateriano’s Cabinet as required by law late on Monday after ousting his predecessor last month in a scandal over domestic spying. (Reporting by Marco Aquino; Editing by Paul Simao)