A tangible effect of the economic weakening forecast for this year will be the increase in the number of poor Peruvians: a GDP variation close to 1.5% and with a strong downward bias, in a context in which 9.1 million compatriots (27.5% of the population) closed 2022 affected by the lack of income, that is, […]
Tag: GDP
GDP would have its lowest growth in 14 years this year
The projections of the Peruvian economic variation for this year have been in constant decline. It is now expected to range between 0.8% and 2.2%. After questions about his optimistic reading, the head of the Ministry of Economy and Finance (MEF)Alex Contreras, told La República that the GDP would close “more or less 1.5%”. The […]
El Niño Costero: MEF concerned about its possible impact in the summer of 2024
The head of the Ministry of Economy and Finance (MEF), Alex Contreras, pointed out that from his office there is some concern about the impact that the Coastal El Niño (FEN) phenomenon could leave. The probabilities that this event is of a strong magnitude have been increasing in recent months. according to National Study of […]
Salary in rural Peru is half in urban areas
According to the latest national employment report from INEI, the average monthly income received by workers in rural areas (S/854.6) is approximately 50% of the salaries received in urban areas (S/ 1711). (See graph) The situation is aggravated when considering that, during the first quarter of 2023, it was reported that 140,100 (-4.1%) people of […]
INEI: GDP contracted 0.45% in the first half of 2023
Two consecutive quarters in red confirm the technical recession of the peruvian economy. The GDP in June fell 0.56%, thus the result for the first half of the year was -0.45%, according to the latest report from the National Institute of Statistics and Informatics (INEI). From January to June, the sectors that had negative performance […]
Peruvian economy fell 0.45% in the first half of 2023
During the first semester of 2023, he Domestic Gross Product (GDP) experienced a decrease of 0.45%. This contraction is mainly driven by the underperformance in the sectors of construction, manufacturingas well as agricultural and fishingaccording to data provided by the National Institute of Statistics and Informatics (INEI). Thus, in the first six months of the […]
Chinese slowdown drags down global copper price
The global price of copper, Peru’s main export metal, is experiencing strong pressure these days that is keeping it at a five-week low, due to weak growth figures from China, a power that is increasingly decimated by indebtedness from his real estate. The price of the red metal remained at the close of its first […]
IMF “assess” economic measures in Argentina and will disburse funds on August 23
He International Monetary Fund (IMF) applauds the measures taken by Argentinawhich devalued the peso and raised benchmark interest rates, and plans to disburse funds to the country on August 23, according to a statement released on Monday. In 2022, the IMF and the Argentine government agreed on a credit program under which the South American […]
Allianz Trade: heat waves could take 0.6 points off world GDP in 2023
The recent heat waves registered in the world could take away from the Gross Domestic Product (GDP) about 0.6 points in 2023, warns a “estimate” of the insurer Allianz Trade, which indicates that China it could lose even 1.3 growth points. The European Copernicus Observatory confirmed on Tuesday that July 2023 was the hottest month […]
BCP reduces its growth forecast for the Peruvian economy from 1.7% to 1.1% in 2023
He Credit Bank of Peru (BCP) cut its growth forecast for the Peruvian economy in 2023 from 1.7% to 1.1% in 2023, due to the effects that the El Niño phenomenon could cause in the last quarter of the year. The estimate remains at 2.7% for 2024. For the remainder of 2023, Credicorp Capital’s Buy […]
