Peru expects building industry to grow 10% in 2010

08:38, March 12, 2010      

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Peru expects its building industry to grow by 10 percent this year, the country's housing, construction and sanitation ministry said on Thursday.

It would be an increase of almost 4 percentage points over last year when the building industry posted a 6.14-percent growth rate despite the global financial crisis.

Ministry sources explained that overall improvement of the global economy is expected to assist a further growth of the building industry, which has been an engine for Peru's growth in recent years.

Peru set a goal of building 250,000 more houses by July 2011, after building 168,000 houses in 2009.

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