The Central Bank of Ecuador (BCE) warned that the Andean country’s economy entered a recession in the first quarter of 2024 (-0.4%) and recalled that it had been in contraction since the fourth quarter of 2022, according to an analytical bulletin in which it notes that it has applied a new measurement methodology. The bulletin […]
Tag: recession
Argentine culture under Milei’s government fears ending up like a bad movie
“Delirium” and a future “dangerous”: from the actor Ricardo Darín to the pianist Martha Argerich, Argentine and international artists accuse the president Javier Milei of undermining culture in a country whose cinema, music and literature are recognized throughout the world. The “chainsaw” with which the ultraliberal leader has reduced State expenses since December to tame […]
IMF estimates that the global economy will grow more than expected and rules out a recession
The managing director of International Monetary Fund (IMF), Kristalina Georgievastated this Thursday that the global growth by 2024 will be slightly stronger than expected due to robust activity in USA and several emerging economies. This will be stated in a speech he will deliver this morning at the Atlantic Council think tank – which was […]
Germany overtakes Japan as the world’s third most powerful economy
Germany has displaced Japan as the third most powerful economy in the world at the end of 2023. According to official data from the Japanese statistical agency, the Asian country registered a contraction of 0.1% in the last quarter of the year, accumulating two consecutive ones. Already in the third quarter, Japan had registered a […]
BBVA: GDP will fall 0.4% in 2023 and there will be a 2% rebound in 2024
He BBVA Research has revised its growth projection for the Peruvian economy downwards. Thus, It predicts that 2023 will close at -0.4%, when the previous quarter there was still talk of growth of 0.4%. Along these lines, the 2024 figure was adjusted from 2.3% to 2%. The factors that were considered for this revaluation were […]
Alex Contreras apologizes for not having initially recognized the economic recession
On the morning of this Monday the 13th, the head of the Ministry of Economy and Finance, Alex Contreras, apologized to the citizens for not having recognized at first that the country was in an economic recession. Furthermore, he highlighted that the current Government “live in a bubble”. “If there was the feeling that one […]
Sales and production expectations for Christmas plummet after confirmation of recession
In the month in which the Ministry of Economy and Finance (MEF) recognized that the country is in recession, the expectations of local businessmen worsened and reached the lowest levels of January 2023, when the economy was besieged by high social conflict. According to the recent BCRP Macroeconomic Expectations Survey, most indicators of business expectations […]
Merchants expect a 50% drop in sales for Halloween
For this Halloween, many merchants maintain an uncertain outlook, and expect to sell only half of their merchandise. In accordance with Roman Nazariovice president of the Mesa Redonda commercial emporium, only 50% or 60% of the level of trade would be reached in relation to last year. Among the reasons behind the negative trend are […]
Juan José Marthans: “A CADE without assigning tasks and responsibilities is useless”
Economist Juan José Marthans, former head of the Superintendency of Banking Insurance and AFP (SBS) and executive president of Globokas Perú, He harshly criticized the Peruvian business sector for being not very “diligent” and having two shortcomings. The first, that they ask for unity in the country, but they are not united among themselves; and […]
Ministry of Economy and Finance rules out granting more bonuses despite recession
Although the Peruvian economy is in a recessionthe Executive Branch does not plan to deliver a new bonus focused on vulnerable families that have been affected by the current economic situation and rising prices, factors that have reduced the purchasing power of citizens. The head of the Ministry of Economy and Finance (MEF), Alex Contreras, […]