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 […]
Tag: Julio Velarde
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%, […]
Julio Velarde: “We expect to close the year with inflation of 3.3%”
The president of the Central Reserve Bank (BCRP), Julio Velarderevised upwards Peruvian inflation in 2023 and placed it close to 3.3%, above the levels forecast in previous projections, and assured that the target range of 1% – 3% will be reached in the first quarter of 2024. In the update corresponding to June, the head […]
Minimum wage in Peru: how much has the RMV increased in the last 20 years and in which government was there the greatest increase?
The possibility of raising the minimum wage in Peru has been put on the table for debate again after the head of the Ministry of Labor and Employment Promotion (MTPE), Fernando Varela, indicated that they are preparing the technical aspect of the minimum living wage (RMV) to discuss it in National Labor Council and reach […]
Velarde describes GDP growth in Peru as “mediocre”: how much would the economy reach in 2023?
The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, pointed out last Friday that the estimated growth of the Gross Domestic Product (GDP) in Peru is “mediocre”; however, it is located in a better position compared to the rest of the countries in Latin America. Along these lines, he warned that the […]
Julio Velarde: “Improvement of expectations is being very slow”
Since January of this year, business expectations have improved, but at a snail’s pace, despite the ravages of inflation, social unrest and natural disasters caused by the passage of the Cyclone Yaku. At the end of May, of 18 indicators, eight are in the optimistic rangeaccording to the survey carried out by the Central Reserve […]
Peruvian economy drags a downward bias for this year, warns Julio Velarde
This year the economy will grow just 2.6%, according to the Central Reserve Bank of Peru (BCRP), due to internal factors such as natural disasters and social conflicts. Julio Velarde, president of the BCRP, announced this Friday that there is a downward bias in the GDP estimate “because of everything that has happened so far.” […]