Looking ahead to 2024, the Minister of Economy and Finance (MEF), Alex Contrerasmaintains its growth projection despite the threat of the El Niño Phenomenon: a GDP of 3%.
Contreras recognizes that they coincide with the estimates of the Central Reserve Bank of Peru (BCRP), and after the productive contraction of this 2023, he assured that from the first quarter of the new year the economy will improve.
“Growth will occur mainly in the second half of the year, with a positive first quarter that will accelerate throughout the year,” He told the media from the National Emergency Operations Center (COEN).
What awaits the Peruvian economy in 2024?
Although Contreras is tight-lipped about quantifying his forecasts, the BCRP recently did: in the first quarter of 2024 the economy will grow 0.8%; in the second, 2.8%; in the third, 4.1% and in the fourth, 4.3%.
On the other hand, after learning that private investment would end the year with a contraction of 7.3% and that its rebound would barely be 1.8%, the head of the MEF guaranteed that “it has been gradually recovering” after falling by up to 12%. % in the first section of 2023.
“What we are observing throughout the year is a gradual recovery of private investment. After having fallen around 12% in the first quarter, it has been recovering and we expect a greater recovery for the year 2024,” he concluded without give details of the factors that would catapult private investment, and mention only “the unblocking of mining projects.”
Source: Larepublica
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