The
Central Reserve Bank (BCR) on Friday raised its forecast for Peru's economic growth from 3% to 3.2% for this year. Likewise, it revised its expansion outlook upward from 3% to 3.2% for 2027.
"Growth will indeed be lower than last year (3.4%), but higher than what we had in the previous Inflation Report," BCR Governor Julio Velarde said.
"In the 2026 growth forecast, the primary sector declines somewhat, but this is offset by sectors linked to domestic demand, which brings us to 3.2%, considering that the previous projection was 3%," he added.
During the presentation of the latest Inflation Report, Velarde outlined growth projections of 0.2% for primary gross domestic product (GDP) and 4% for non-primary GDP for 2026.
For 2027, primary GDP (agriculture, fishing, mining, hydrocarbons) would grow 3%, while non-primary GDP (manufacturing, construction, trade, services) would expand 3.3%, he added.
The BCR governor said economic activity indicators continue to show solid performance and would maintain strong growth momentum.
"The economy is very strong, with extremely strong momentum. This (the current context) will partially slow it, but it will still hold up, provided it (the domestic and external uncertainty) does not last long," Velarde indicated.
"It may slow, but the economy is advancing strongly, which explains why growth continues. We could be mistaken if the situation changes; however, it (the BCR's projection) is based on what we are seeing now," he added.
Meanwhile, the BCR head said global economic growth forecasts have been revised slightly upward, from 3% to 3.1% for this year and from 2.9% to 3% for 2027.
"This is supported by stronger performance in developed economies. However, global risk has increased due to the conflict in the Middle East," he remarked.
(END) CNA/MVB
Published: 3/20/2026