The Central Reserve Bank of Peru (BCRP) today presented its new estimates and maintained the growth projection of the Gross Domestic Product (GDP) at 3.4% for this year, considering that there is uncertainty at the international level due to the conflict between Russia and Ukraine. By 2023, the expansion of the national economy would be 3.2%, similar to its forecast three months ago.
In this regard, the president of the BCRP, Julio Velarde, indicated that last February the GDP would have had an interesting performance, for which he estimates that a rate of between 5% and 6% has been registered.
“We are currently above 2.4% of the pre-pandemic level in January. We are hoping that at least in the coming months these figures will be positive, I think that February will surprise with a greater recovery of the product, even at quite high rates that may be between 5% and 6%, and for March, although we are having negative effects associated with mining conflicts, we also hope that the other indicators continue to be positive, it will not be so bad”, said Velarde during the presentation of the March inflation report.
In detail, the monetary entity forecasts that the primary GDP have a growth of 5.3% at the end of 2022, while the non-primary GDP -where manufacturing, electricity and water, construction, commerce and services are found- would have an expansion of 2.9%.
Economic projection. Source: BCRP
Regarding private investment, the BCRP maintained its projection of 0% for 2022, however, it clarified that this does not mean that this indicator will be lower, since in amount, an investment of around US$ 48,000 million is expectedsimilar to what was obtained last year.
Private investment projection. Source: BCRP
Source: Larepublica
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