The Peruvian Chamber of Construction (Capeco), said construction companies perceive that since last May, the financial system has begun to relax the conditions for granting credit, after holding a further tightening began when the international financial crisis .

"The financing is improving, no doubt already see greater support and believe that for the second half the conditions will be much better," said President Capeco, Walter Piazza.

He said that measures have been taken by the Central Reserve Bank (BCR) to reduce its benchmark rate are allowing interest rates begin to decline.

In this regard, the director of Capeco, Hernando Graña, said the reduction of interest rates has a greater impact on the cost of housing than the price of building materials.

"A ten percent rate is appropriate, but whether further reductions would be much better," he said.
For his part, Piazza revealed that the dynamism of the construction sector will contribute 1.5 percentage points to economic growth will reach 3.5 percent this year Peru.

He said the sector this year would grow between eight and ten percent by boosting housing construction, infrastructure and expansion of shopping centers, that although growth slowed earlier this year to retake its trend in the coming months.

Last year saw a growth of 16 percent, higher than the regional average, and surpassed all expectations.

Piazza said the slight decline in driving the activity this year has been beneficial in some way because the growth deficit in 2008 resulted in skilled labor, engineers and materials, with consequent cost increases.

"The slowdown has had a positive effect, last year's growth was unsustainable, we have had some breathing is good for everyone," he said.

• Tweet This
• Digg This
• Save to delicious
• Facebook it
• RSS Feed