By Marco Aquino
Reuters
Peru’s President Ollanta Humala said on Saturday he plans policy changes to boost domestic demand and offset tumbling mining exports that have dragged growth to its weakest pace in five years.
Depressed global mineral prices and softer demand for commodities from China have been eating away at Peru’s growth rates that topped 6 percent annually for much of the past decade. The government has said it will revise down its forecast of 5.7 percent GDP growth for 2014.
Humala, whose popularity ratings have slumped, declined in an interview with Reuters to give details of the plans, saying that he would flesh out the new policies in an annual speech to the nation on July 28.