Economic growth prospects are solid, and government stability is expected despite policy hurdles. President Martin Vizcarra enjoys high approval ratings following anticorruption measures. However, the fragmentation of Congress and governability risks related to new corruption cases constrain the government's capacity to implement significant policy measures. Mining projects could, once again, be the engine of growth in the coming years. Budgetary consolidation is ongoing, and net general government debt will remain low. We expect the current account deficit will average 1.7% of GDP in 2019-2022, while narrow net external debt remains moderate. After posting a lower general government deficit of 2.1% of GDP in 2018, we expect the government will continue its gradual fiscal consolidation. We expect the net general government
