The issuing entity slightly raised its GDP projection. Higher fishing quota would explain the upward bias.
The Central Reserve Bank of Peru (BCRP) slightly raised its GDP projection for this year, now placing it at 3.1% (previously at 3.0%).
According to Julio Velarde, president of the BCRP, the rebound would respond to a greater expansion in primary activities due to a higher fishing quota.
The banker added that the Peruvian economy will end the current “better than other countries in the region.”
In detail, they expect the agricultural sector to close the current at 3.5%, fishing at 20.2% and manufacturing, 4.5%. These sectors ended 2023 in red.
On the other hand, greater growth in domestic demand is expected (+3.5%) for this year thanks to the greater execution of public investment and greater liquidity due to the release of 4 UITs from the AFPs and CTS in favor of private consumption.
Source: Larepublica
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