projected that Peru's Gross Domestic Product (GDP) will grow 3.2% this year, up from the initial forecast of 3.1%.
"The main economic indicators reflect fairly solid growth. That is why we decided to adjust our outlook, and now we expect GDP to grow 3.2%," he stated.
According to the BCR's inflation report, primary activities are expected to show greater dynamism, along with good performance in metallic mining and the agricultural sector.
These sectors are projected to rise 0.5% and 3.7%, respectively.
Additionally, fishing is expected to advance 2.8%, manufacturing 26%, and hydrocarbons 3.5%.
Formal employment
Velarde stated that, the formal wage bill grew 7.6% between January and July 2025.
"If we look at formal employment, we see that total employment increased 5.1% in the first seven months of the year. In the private sector alone, the expansion has been 6.6%," Velarde noted.
He further noted that the agricultural sector recorded the highest growth in formal employment (24.4%), "although the expansion applies to all sectors."
Velarde also mentioned that import volumes of industrial inputs expanded 18.9% between January and July 2025. Meanwhile, capital goods imports rose 18.6%.
"These figures are truly impressive," he emphasized.