The Peruvian economy would close this year with growth of 2.5% and by 2024 it would reach 3.4%, according to Citi bank forecasts. However, specialists from the financial institution point out that by 2023 there could be a downward trend due to the little progress made during the first quarter of the year.
“Peru in 2022 was the country with the weakest growth, if we see the change from 2022 to 2023 the slowdown is not that strong, but the 2.5% growth is weak for Peru and well below the last 10 years,” said Esteban Tamayo, Citi’s Colombia and Peru economist.
In addition, he specified that a rise in the Gross Domestic Product (GDP) is expected for April, which would bring the country closer to an annual closing of over 2%.
“The risks are on the downside for January and February, we already had two negative growth figures. Now that the protests are over we should see in April a rebound and I think that 2.5% can be achieved, but it has a downward biasTamayo added.
In relation to exchange rate, Citi forecasts that it will end the year at S/ 3.75. By 2024, the expectation drops to S/3.70. “Going forward, we expect a slight appreciation of the sol as the dollar once again loses value against a broader basket of currencies and as we see more recovery next year,” concluded Tamayo.
Source: Larepublica
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