LIMA, March 16 (NNN-ANDINA) — The Central Reserve Bank (BCR) estimated that the Peruvian economy will grow 3% in 2024 and next year, thereby maintaining its previous forecasts.
“Regarding the national economic activity, we have retained our previous growth projection that was issued in December (2023),”Central Reserve Bank Governor Julio Velarde said during the presentation of the latest Inflation Report.
“January’s gross domestic product (GDP) (1.37%) is slightly higher than the expected figure, but if we have to revise our projections (for the entire year 2024) we will do so in the June Inflation Report,” he added.
Velarde affirmed that the normalization of weather conditions is expected to boost primary GDP and the recovery of private spending, which favors non-primary activity.
“We expect a recovery this year. El Niño phenomenon is virtually ruled out,” he remarked.
The BCR head showed the growth projections for primary GDP (2.8%) and non-primary GDP (3.1%) for the current year, while in 2025 they will be the following: primary GDP (3.1%) and non-primary GDP (3%).
“The important thing is that we are expecting the non-primary sector, which fell 1.5% in 2023, to grow 3.1% this year and 3% next year,” he said.
Julio Velarde explained that a lower impact of inflation is expected on the purchasing power of the population, as we as an environment of sociopolitical stability that will favor the recovery of consumption and private investment. — NNN-ANDINA
