After the ghosts of the pandemic dissipated, the Peruvian economy it will barely grow this year below 1.0% –and with strong downward biases due to the climate emergency, which could take it to 0%–. What explains the deterioration? The protests after the arrival of Dina Boluarte The Government Palace still has a dent in the […]
Tag: Julio Velarde
Julio Velarde: Mining investment will fall 18% this year
Mining is a key driver of the Peruvian economy. However, in the last three years, there is no investment in new projects. Given this, the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, during his presentation at Perumin, pointed out that mining investment will close the year with a drop of 18%, […]
BCRP: non-working days in Peru increased by 25% in the last 2 years
In the last two years, non-working days in the country have increased by 25%, as they increased from 12 to 16 holidays. In this way, formal workers have 30 days of vacation and 16 holidays, which makes us the nation with the most paid days off compared to the countries of the OECD and the […]
Food and energy prices would rise almost 5%
The Central Reserve Bank of Peru (BCRP) recently revised downward the growth forecast for the Peruvian economy from 1.3% to 0.9%. This – among other factors – driven by low business confidence, which will result in a 5.3% drop in private investment at the end of 2023. In a scenario marked by the rise in […]
Private investment in a nosedive: it will close at -5.3% this year
The slowdown in GDP – it fell 0.5% in the first half and is expected to close the year below 1% – is largely explained by the contraction of private investment and the low confidence of consumers and businessmen, according to the latest report from the Central Reserve Bank of Peru (BCRP). In the first […]
When would the price of lemon drop in Peru? Julio Velarde estimates possible date
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 […]
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 […]