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Velarde affirmed that the GDP would grow more than 13% in 2021 if the August level is maintained

The year-on-year GDP growth in 2021 would be 13.2% if the level experienced in August were maintained. This was stated by the president of the Central Reserve Bank of Peru, Julio Velarde, during its participation in the 2021 Economic Forum “Trust for economic development: managing change”, organized by AmCham.

“Our last official growth projection was 11.9%, but if the August level continues; that is, it is no longer growing, but it is not decreasing either, the growth for the year would be 13.2% and 0.8% compared to 2019 ″, he mentioned.

The director of the monetary authority pointed out that in August the GDP was already 0.2% over that obtained in the same period of 2019 and 18.6% above that registered in 2020. This shows that the national economy is is recovering. “To a large extent, the sharp decline and growth figure has recovered,” he said.

Velarde also mentioned the 10.6% projection made by the International Monetary Fund (IMF) for Peru. He indicated that for those figures to be fulfilled, GDP should experience a fall in the last quarter of 2021. “For it to grow to that level, Peru must have a double-digit drop in the fourth quarter, which is highly unlikely. In almost no scenario would this happen ”, he highlighted.

Finally, he rescued that the construction and manufacturing sectors experienced a notable recovery, in contrast to mining and services compared to the January-August 2019 period.


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