Peruvian President Pedro Pablo Kuczynski said on Friday (March 3 2017) that corruption allegations were slowing private investment, although he still expected the country’s economy to expand 3 percent to 5 percent this year due to public investment and higher metal prices.
Kuczynski’s approval rating fell five percentage points to 38 percent in February as a graft scandal involving Brazilian builder Odebrecht SA [ODBES.UL] ensnares former President Alejandro Toledo.
“I believe there is a lot of pessimism,” Kuczynski said on RPP radio. “The corruption case revolves around contractors. Odebrecht is already being investigated, but there are others, and that makes the projects stop.”
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