The government might turn to capital markets during the first semester of this year if opportunities exist, the economy chief said during a news conference.

The minister also forecast what he described as a "moderate" economic expansion in March, and then 4% growth in April.

The Andean nation's central bank estimated earlier on Friday lower economic growth this year due to the impact of months-long social unrest and torrential rains earlier this month.

On Thursday, officials announced that the government will spend more than $1 billion on climate and weather measures, in a bid to contain adverse impacts from climate change and El Niño-related weather events.

(Reporting by Marco Aquino; Writing by Valentine Hilaire; Editing by Brendan O'Boyle and Marguerita Choy)