According to Peruvian leader Ollanta Humala, he would be prioritizing investments and ramp up infrastructure projects after experiencing what he termed as a 'bump in the road' for the Peruvian economy.
The Peruvian president reported that the country's economy slowed down in the first quarter of 2013, reporting only a 4.8% expansion for the period. This was low compared to the previous year's growth and this slowdown is largely attributed to the weakening mineral prices that has been the staple of the traditional mining industry of the Andean nation.
President Humala told reporters, "We have decided to declare investments in the country to be of national interest."
He also said he would be introducing a number of reforms designed to boost the volume of investments inthe country. He told reporters that his government has 'the conviction to overcome' tough external economic issues that affect the internal Peruvian markets.
Amongst the measures he is intending to implement would be increasing access to capital markets and a new land use law that would allow infrastructure projects to be done at a shorter period of time.
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