The normalization of climatic conditions and recovery of private spending is expected to help the annual result of the economy after the recession, according to Julio Velarde.
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Julio Velarde, president of the Central Reserve Bank of Peru (BCRP), indicated that the national GDP will grow 3.0% in 2024. Thus, he maintains the projection given in the last Inflation Report of December 2023.
In the banker’s opinion, the normalization of climatic conditions is expected to boost primary GDP and the recovery of private spending will help non-primary activity.
For 2025, they also maintain the annual variation of GDP at 3.0%.
The head of the BCRP foresees that private investment now grows 2.3%—previously, they expected 1.8%. Regarding mining investment, he assures that “there is a more positive attitude” from the companies, which is why it would rise 7.8%—after falling 13.3% in 2023—.
Trained at the Jaime Bausate y Meza University. In constant learning. Economics is the branch of journalism closest to the people and my duty is to be a bridge to information.
Source: Larepublica
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