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MEF reduces GDP growth forecast to 3.6% in 2022

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The Ministry of Economy and Finance (FEM) reduced its growth projections for the Peruvian economy in 2022, going from 4.8% to 3.6%; according to estimates of Macroeconomic Projections Update Report (IAPM) of the Multiannual Macroeconomic Framework (MMM) 2022-2025issued this Saturday, April 30.

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Thus, the gross domestic product (GDP) would fall 1.2% this year, compared to the projections for 2021, and would unfold in a scenario marked by the greater opening of the economic activities most affected by COVID-19, the recovery of domestic demand for the continuity of the impulse of public investment and private spending, exports in the face of a greater mining supply and high prices of raw materials.

It should be noted that the MEF estimated growth for this 2022 of between 3.5% and 4.0%.

The text also considers that public spending, mainly public investment, will help sustain growth this year.

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Source: Larepublica

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