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IMF maintains its outlook for Peruvian GDP growth at 2.5%

IMF maintains its outlook for Peruvian GDP growth at 2.5%

Persistent political uncertainty “decreases the appetite to carry out urgent reforms to boost potential growth,” the IMF says.

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The International Monetary Fund (IMF) maintains its growth forecasts for Peru at 2.5% in 2024 and 2.7% for 2025, with an economy that “is recovering” after the effects of the El Niño phenomenon and the social unrest of early 2023.

The prospects for a rebound of up to 2.5% are supported by a strong recovery in agriculture, fishing and miningas well as a more flexible orientation of monetary policy.

However, while nominal wages gradually recover their purchasing power and high political uncertainty hampers consumer and business confidence, only a moderate variation in private consumption and private investment is expected.

In its latest report, the IMF assures that Peru is “in a period of relative political stability”, although it recognizes that the “persistent uncertainty” reduces “the appetite to carry out urgent reforms that will boost potential growth.” .

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Journalist from the Peruvian University of Applied Sciences (UPC) with a major in Management and Leadership. She is editor of La República in the economics section for digital and print.

Source: Larepublica

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