He Central Reserve Bank of Peru (BCRP)) in June reduced its growth forecast for the Peruvian economy from 2.6% to 2.2% in 2023, due to weather factors that hit the fishing and agriculture sectors. For 2024 it remains at 3%.
The president of the BCRP, Julio Velarde, explained that the social protests in the first quarter affected private investment, while the weather events strongly affected the fishing and agricultural sectors.
“We are going to adjust the growth precision from 2.6% to 2.2% largely due to what has already happened in the first quarter. The blow that private growth suffered mainly due to the protests, but also due to weather problems March,” he sent.
These factors have affected both the primary and non-primary sectors. The primary, basically, by Fishing, which is being affected by the El Niño Phenomenon, as well as the Agricultural sector,” said Velarde.
In this sense, the BCRP also cut its growth forecast for the Agricultural sector from 2.2% in May to 0.4% in June, while Fishing collapsed from 5% in the previous month to -15% by the end of 2023. It should be noted that the first anchovy fishing season was recently canceled due to a high incidence of juveniles.
“Metallic mining is growing a little more than we expected: 8.3% compared to 7%. Meanwhile, the non-primary sector is being adjusted to zero growth this year from a previous forecast of 1%. They are sectors largely linked to internal demand,” concluded Velarde.
Source: Larepublica
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