The price of lemon continues to cause concern in Peruvian homes. Its high cost forces us to look for options that can replace it in the basic family basket. This increase in prices has arisen as a result of the heavy rains between the months of March and April due to the Coastal El Niño […]
Tag: Julio Velarde
GDP in a nosedive: it would only grow 0.9% this year, warns the BCRP
The national economy will close the year with a growth of just 0.9%, according to the Central Reserve Bank of Peru (BCRP). This reading is starker than the 1.1% predicted by the Ministry of Economy and Finance (MEF). Julio Velarde, president of the BCRP, points out three reasons why GDP will stagnate: droughts in the […]
Lemon and onion prices will continue to rise in August
More blows to the home economy. Peruvians will have to spend more to consume two important products of the basic basket, such as lemon and onion, which, during August, will continue with high prices, warned the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde. As La República announced, the price of lemon […]
Julio Velarde rules out technical recession and estimates that GDP would grow up to 4% in the fourth quarter
Julio Velarde, president of the Central Reserve Bank of Peru (BCRP), assured that our country is not in a technical recession despite the arguments of various specialists after the 0.45% drop in GDP in the first half of the year. “It’s hard to call it a technical recession (…) It is true that we have […]
“Mining investment is falling because there is no big project,” warns Julio Velarde
He Central Reserve Bank of Peru (BCRP) it expects mining investment to fall by close to 20% this year, in a context where total private investment fell 8% towards the second quarter. Julio Velardehead of the issuing entity, recalls that the lack of large-scale projects affects this indicator, which in 2019 mobilized US$5,909 million and […]
BCRP: exports would fall 0.2% in 2023 due to lower copper and zinc prices
The Central Reserve Bank of Peru (BCRP) revised downward its projection of exports. Of the US$68,179 million that was expected three months ago, now It is expected to reach US$66,131 million in national shipments by the end of 2023which would represent a drop of 0.2% compared to 2022, when it reached US$66,235 million. According to […]
Low business confidence delays investment progress
The Central Reserve Bank of Peru (BCRP) adjusted downward the projection of private investment growth for this year. The drop went from an initial estimate of 0.5% in March to 2.5% in June. The forecast for 2024 remains at 1.8%. The reduction is the result of a slow recovery of the business trust and a […]
GDP would grow just close to 2% during this 2023
For the economy to close at 2.5% this 2023, as expected by the Ministry of Economy and Finance (MEF), it would have to grow 3.8% in the remaining months, which is “practically impossible”, according to the economist Luis Arias Minaya. Despite the El Niño phenomenon, the head of the MEF, Alex Contreras, maintains an optimistic […]
Julio Velarde: pension reform must migrate to a system of individual accounts
The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, assured that the reform of the pension system —gestated on various fronts from Congress— must aim at the creation of an individual attention system, considering that the solidarity model of the ONP is unsustainable over time. “In the long run we are going […]
BCRP estimates that private investment will fall 2.5% in 2023
The private investment will fall 2.5% this year with a slight recovery during the second semester in a scenario of gradual recovery of business confidence, according to the Central Reserve Bank of Peru (BCRP). “We are now estimating that the mining investment is going to fall 18.9% and that non-mining is going to fall 0.5%, […]