The Minister of Economy, José Arista, stressed that there is macroeconomic stability for investors.

The head of Peru's Ministry of Economy and Finance (MEF), José Arista, said on Wednesday that the Andean country is "the biggest magnet" in the region for private sector investments due to the interest shown by companies in developing large infrastructure projects.

"Peru is the biggest magnet, I would say, for private investment in Latin America thanks to these infrastructure projects: Chancay, the new Jorge Chávez Airport, the Port of Callao," Arista said in an interview with TV Perú .

The minister mentioned that Peru has macroeconomic stability, reflected in the US$ 84 billion in international reserves, an inflation rate of 2.4% and the lowest level of debt in Latin America with 32% of the Gross Domestic Product (GDP).

He also highlighted that the three risk rating agencies that Peru works with (Fich Rating, S&P and Moody's) changed their outlook this year.

"Thanks to these results, we will stabilise and possibly, depending on the results of the coming years, we will begin to recover the lost ground," he added.

INFRASTRUCTURE

On the other hand, Arista mentioned that this year all records have been broken in infrastructure growth.

"We have a growth of 47 billion soles (US$ 12.459 billion) in infrastructure. The most recent or previous figure was 37 billion (US$ 9.808 billion). We have grown more than 20%," he revealed.

However, he acknowledged that the figure covers 15% of the existing infrastructure gap, which is more than US$ 100 billion.

"A large part of our budget should be used to close these gaps; we are missing 85%. Every day that passes, large projects appear. For example, Chancay needs larger roads," he said.