The Central Reserve Bank of Peru (BCRP) revised downwards its estimate of the Peruvian economy. Thus, from projecting a growth of 0.9% three months ago, it now estimates that the national Gross Domestic Product (GDP) would register a fall of 0.5% at the end of 2023. Julio Velarde, president of the entity, explained that the […]
Tag: GDP
BCP: growing 2% in 2024 will not help reduce poverty
The Peruvian economy will close the year at -0.5% or -0.6% – its worst level in the last 25 years, not counting the pandemic – according to Carlos Prieto, manager of the BCP’s Economic Studies Area. The equation that explains the deterioration of GDP is known: social protests, El Niño Costero, Cyclone Yaku, inflation and […]
The European Union agrees to make budget rules more flexible within the bloc
The 27 member states of the European Union (EU) They agreed this Wednesday to soften budget rules within the bloc, a decision that seeks to rectify public finances without compromising investments. EU finance ministers approved “a new economic governance framework that guarantees stability and growth”celebrated the Spanish presidency of the Council of the European Union […]
Scotiabank: Peru’s GDP in November will still register negative figures
The Scotiabank Economic Studies Department estimated that, by November 2023, the Peruvian GDP will continue to “register negative figures, although to a lesser extent than in October.” According to the Weekly Report of the Canadian Capital Bank, this result “would continue to be explained by the weakness of domestic demand”, particularly private investment that has […]
GDP falls for the sixth month in a row and registers -0.65% as of October
October has served to consolidate the recomposition of the activities that generate the greatest negative contribution to national production. The drop of 0.82% in the tenth month of the year confirms that manufacturing has been displaced by the non-primary sectors of construction and financial services—in addition to agriculture—in the area that traditionally anchors GDP. After […]
GDP does not recover and fell 0.82% in October
Downhill. INEI confirmed this Friday that the October GDP registered a decrease of 0.82% due to the lower performance of the Construction, Financial, Agricultural, Manufacturing, Telecommunications, Services Provided to Businesses and Accommodation and Restaurants sectors. In the tenth month of 2023, national production was leveraged by a greater increase in activities in the Mining and […]
Half of Peruvians do not want to invest their money
47% of Peruvians consider it impossible or unlikely to invest in the next six months given the adversities that weigh down the country, according to the latest Investor Mood Index report carried out by Tyba, from Credicorp Capital. “The biggest problem (in Peru) is inflation, which affects the poorest to make their money profitable. Secondly, […]
UN: natural disasters left more than 53,600 dead in Africa between 2000 and 2022
The Economic Commission for Africa of the United Nations (Uneca) today warned of an increase in natural disasters in Africa due to the climate crisis, which have left more than 53,600 dead between 2000 and 2022 and have hampered the economic growth of the continent. “Climate-induced catastrophic events have triggered serious humanitarian crises in Africa. […]
Five shopping centers will open in 2024 and 2025
By 2023-2025, Peru will have seven new shopping centers with an investment amount of US$192 million, reported the Institute of Economics and Business Development (IEDEP) of the Lima Chamber of Commerce (CCL). The inauguration of the Plaza de los Reyes Gastronomic Shopping Center in the Center of Lima and Eco Plaza Ate is planned for […]
With a tough economic horizon, Argentina begins the ‘Milei era’
With a tough economic horizon, beyond the already complicated present, Argentina began this Sunday the ‘era Milei‘, the presidential mandate of the libertarian economist who kicked the board of the South American country’s politics until he became the “first liberal libertarian president” of history. With that phrase that he used on the election night of […]
