LIMA, March 15 (Reuters) - Peru's economy is forecast to grow 3.0% in 2024, according to a report published by the central bank on Friday, after bad weather, political upheaval and high inflation pushed the country into recession last year.
Policymakers in the Andean nation have been optimistic the country can reverse as soon as this quarter an economic contraction that lasted four consecutive quarters last year.
The 2024 growth projection in the world's No. 2 copper producer was in line with the central bank's previous forecast, although it projected an increase in private investment of 2.3%, above the previous estimate of an expansion of 1.8%.
Investment in Peru's critical mining sector is slated to grow 7.8% this year due to a "more positive attitude" among some mining companies, central bank President Julio Velarde said during a presentation of the report.
Peru's economy has shown signs of recovery, with gross domestic product up 1.37% in January, Peru's statistics agency said earlier on Friday, although the uptick was below expectations.
In its report on Friday, the central bank trimmed its forecast for inflation in 2024 to 2.2% from 2.3%, which is within its target range. It said the revision reflected expectations that climate-related events would have less of an impact on food prices this year. (Reporting by Marco Aquino; Writing by Brendan O'Boyle; Editing by Kylie Madry and Paul Simao)
