The Central Reserve Bank of Peru (BCRP) revised downwards its estimate of the Peruvian economy. Thus, from projecting a growth of 0.9% three months ago, it now estimates that the national Gross Domestic Product (GDP) would register a fall of 0.5% at the end of 2023.
Julio Velarde, president of the entity, explained that the decrease in economic activity is due to climatic anomalies throughout the year and lower private spending on non-primary activities.
“There have been exogenous factors behind this growth this year, the most important of which has been climatic factors. The protests had an impact of 0.8 points of the product, but lThe climate factors have had an impact of almost 1.5 points“said the banker.
According to BCRP projections, eight economic sectors would register a contraction in 2023. In detail, Fishing would be the sector that would have the largest drop with -17.6%, followed by Construction (-8.0%), Non-primary manufacturing (-8.0%), Agricultural (-4.3%), Agriculture (-3.0%), Primary manufacturing (-1.7%), Livestock (- 0.8%) and Services (-0.2%).
In contrast, only three sectors would present growth at the end of the current period. The Metal Mining category would have an expansion of 8.4%, while Commerce and Hydrocarbons would register an advance of 2.5% and 0.9%, respectively.
Source: Larepublica
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