The International Monetary Fund (IMF) revised downwards its projection on Peru’s economic growth for this year from 3% to 2.8%, according to the latest forecast report from the Gross Domestic Product (GDP) worldwide of the institution.
With these new results, Peru would be the third nation in the region with the best performance this year, surpassed by Colombia, which is expected to expand by 6.3%, and Argentina, which would grow by 4% in 2022. .
These new figures from the IMF regarding the national economy are below the official forecasts of the Central Reserve Bank of Peru (BCRP), which expects a growth of 3.1% due to the normalization of primary production in the second half, assuming the entry into operation of the Quellaveco project.
While, the Ministry of Economy and Finance (MEF) itself estimates an expansion of 3.6% this year, despite the adverse international scenario.
“This optimism is based on the information we have to date on the recovery of mobility, of various economic sectors and large projects that will give us momentum in the macroeconomic field,” said the head of the MEF, Oscar Graham, a week ago in a conference with the Peruvian Foreign Press Association (APEP).
However, the forecasts of the international organization are close to the economic perspectives of the economic agents, who foresee that the national GDP would grow between 2.5% and 3% this year, according to the latest survey of macroeconomic expectations carried out by the BCRP .
Highest growth in 2023
Regarding the next year, the IMF maintained its estimate of Peru’s GDP for 2023 at 3%, same forecast that is expected for Argentina. While Colombia would continue to lead regional growth with 3.5%.
It is important to mention that the BCRP estimated an advance of 3.2% for next year, while the MEF expects it to grow 3.5%, according to its 2022-2025 macroeconomic projections update report.
At the regional level, the IMF projects that the Gross Domestic Product of Latin America and the Caribbean revised by 0.5 percentage points more than estimated in its previous report published in April, reaching 3% this year; however, its estimate for 2023 will be lower than expected, since an advance of only 2% is expected.