BCRP: “We project that April GDP grew more than 4%”

Adrián Armas, central manager of Economic Studies at the Central Reserve Bank of Peru (BCRP), explained that the information obtained in the month of April is promising and that GDP could grow by more than 4%, a more optimistic projection than what was expected. has the Ministry of Economy and Finance (MEF).

“The information for April, on the primary sector side, is quite promising. We have triple-digit increases in fishing and an agricultural sector that is growing more than 20%. Thus, the primary GDP will be growing double digits. Therefore, we project that April GDP will grow more than 4%“Armas detailed.

Meanwhile, José Arista pointed out in Congress that the Peruvian economy would have grown up to 4% in April and that this rate would also possibly be repeated in May. To this end, the MEF is considering different measures to make the reactivation sustainable.

Regarding the MEF’s exhortation to the BCRP to be “more proactive” regarding the recovery of the reference rate in order to speed up the economic recovery, Armas recalled that it is due to an autonomous entity and that economic activity would already be recovering. , which is why the reference interest rate has remained at 5.75%.

“The actions of the monetary policy interest rate go according to how this information comes. There can be no positive economic growth with high inflation and one of the factors that is causing the economy to recover is precisely this control. Inflation is already in the center of the target range, this supports the gradual recovery of consumer confidence. Throughout this period, we have been responsible for moving the reference rate prudently to guarantee the return of inflation to the target range,” Armas explained.