Due to the economic impact of the protests and the intense rains caused by Cyclone Yaku, the Central Reserve Bank of Peru (BCRP) revised downward its macroeconomic projections for 2023. Thus, the monetary entity reduced from 2.9% to 2.6% the growth of the Gross Domestic Product (GDP) for the current year. This expected lower dynamism […]
Tag: Julio Velarde
BCRP: Private investment would fall 0.5% for the second consecutive year
For the second consecutive year, the private investment in Peru it would have a fall of 0.5% at the end of 2023, a figure similar to that registered during 2022. This was announced by the Central Reserve Bank of Peru (BCRP), which revised its projection downward on the performance of this indicator. In its previous […]
BCRP reduced its estimate of GDP growth from 2.9% to 2.6% for this 2023
The Central Reserve Bank of Peru (BCRP) reduced its projection of economic growth for 2023 from 2.9% to 2.6%. This lower performance of the Gross Domestic Product (GDP) would be explained by the impact of social conflicts and the rains recorded in the second week of March. However, by 2024 the national economy is expected […]
Julio Velarde foresees a drop of more than 4% in GDP in January due to protests
Julio Velardepresident of the Central Reserve Bank (BCR), estimated a drop of more than 4% in gross domestic product (GDP) last January, due to the social protests that devastated the country. During Peru Day at the PDAC 2023 mining convention, the head of the Peruvian issuing entity said that, in December 2022, this impact on […]
BCRP works with the IMF on a digital currency to boost banking access in Peru
The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, revealed that the entity has been working with the International Monetary Fund (IMF) in a pilot project to implement a digital currency In our country. This statement was made during his participation in the 53rd meeting of the World Economic Forum which takes […]
Mining projects for US$10,555 million will be unlocked
The government of Dina Boluarte He has in mind to prioritize the unlocking of nine mining projectswhich total a portfolio of US$10,555 million, ratified Prime Minister Alberto Otárola during his presentation in Congress to request a vote of confidence. These projects, including the expansion of Toromocho, Sulfuros Yanacocha and the extension of Antamina, are at […]
Dollar price today in Peru: what is the exchange rate for this Monday, January 9
What are the tax changes that companies must take into account in 2023? From January 1, 2023 there will be a series of changes in the regulations and readjustments in tax matters. These measures include new deadlines for sending the invoice or electronic note, as well as the entry into force of Legislative Decree 1532. […]
Vacancy does not affect confidence or growth
Despite the political upheaval generated by the failed coup d’état by Pedro Castillo and its subsequent vacancy, The economic growth estimates for this year and 2023 will not be affected –which in their most optimistic scenarios would be 3.0% and 3.9%, respectively– (see infographic). According to Hugo Perea, chief economist at BBVA Research, In the […]
BCRP raised the reference interest rate to 7.50% to contain the advance of inflation
The Central Reserve Bank of Peru (BCRP) agreed to raise the reference interest rate by 25 bps. at 7.50%, as part of its monetary policy adjustments and with the intention of attenuating inflation that is at the upper limit of the target range. The twelve-month inflation rate increased from 8.28% in October to 8.45% in […]
Kurt Burneo: “Peru’s investment grade has not been lowered
The Ministry of Economy and Finance (MEF) affirmed that Peru continues to be the country with the second best credit rating in the region, after the rating agency Fitch Ratings kept it at BBB, which corresponds to a grade of investment. However, given the review by the international rating agency of the credit outlook for […]