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PERU: Odebrecht Scandal Could Shave 0.6 Pp From GDP Growth - Central Bank

(Agencia CMA Latam) - Julio Velarde, governor of the Peruvian central bank, said that the corruption scandal involving the Brazilian construction company Odebrecht could shave 0.5 to 0.6 percentage points from the country's Gross Domestic Product (GDP) growth this year.

Velarde presented the central bank's updated economic estimates to the Peruvian Congress during a session to discuss the budget for 2018.

According to the governor, Peru's GDP would be impacted by the Odebrecht case due to the halt in works such as the Olmos Special Hydroelectric and Irrigation Project and the Chavimochic III Special Project.

by Agencia CMA Latam

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