The Peruvian Central Reserve Bank (BCR) on Friday held its economic growth forecast for this year at 2.8% in its September 2017 Inflation Report.
While BCR projects a decline in primary sector GDP by end-2017 (down from 5.3% to 4.7%), said drop is to be offset by non-primary activities, in which the central bank anticipates 2.2% growth (up from its 2.0% estimate).
In addition, the issuing entity projects greater domestic demand (forecast up from 1.9% to 2.3%). This is to be underpinned by growing consumption (2.6%) and a less severe decline in private investment (from -1.8% to -1.0%).
BCR's
4.2% growth forecast for 2018 also remains unchanged, with an expected jumpstart in economic activity to be driven by a rebound in the construction sector (8.0%).
(END) RGP/RGP/MVB