Peru's economic growth is expected to slow significantly in 2015 due to unfavorable external factors like low prices for raw materials exports and domestic issues. GDP growth was only 1.68% in January 2015 and most estimates put full year growth around 3% or less, down from initial projections of 4.8%. Lower export revenues from commodities like copper, social conflicts hindering mining projects, and the government's inability to effectively implement spending programs are some of the challenges facing Peru's economy. Political instability exemplified by frequent changes in prime ministers and scandals have also undermined confidence in the government.