The GDP of agricultural sector It contracted by 4% for the month of October, the worst performance in 30 years, when it fell by 7.7%, reported Julio Velarde, president of the Central Reserve Bank of Peru (BCRP).
“We are going to have the worst performance in the year since 1992, which fell 7.7%. Until October we are falling 4%, and this year we ended with a drop of 3%. At least the crops have been delayed, like the production of blueberries,” Velarde indicated during the Presentation of the December 2023 Inflation Report this Friday, December 22.
Agricultural GDP has its worst performance in 30 years. Photo: BCRP
Among the reasons, he pointed out that the climatic anomalies caused by the Coastal Niño Phenomenon, where high temperatures were recorded from April to November had a negative impact on crops. However, he specified that the recent FEN projections for next year suggest a 74% probability for a weak or moderate scenario, while 23% contemplates a strong one.
“The chances of moderate are a little higher, but obviously a risk remains. When we say moderate it means that life is going to be normal, but there is going to be a little more rain,” added the banker.
Likewise, with respect to the economic sectors, it is expected that the agricultural sector will have a drop of -4.3%, and that the livestock sector will decline by up to 0.8% in its December performance.
Source: Larepublica
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