stated that the Peruvian economy is maintaining good momentum and is estimated to have grown by around 3% last July, driven by the recovery of business and consumer confidence.
"For July, specifically, we estimate growth of around 3%, taking into account that June's 4.5% included an extraordinary increase in primary GDP (6%), which would be moderating in July. Nevertheless, what is important is that the economy continues to grow at a good pace," he added.
Armas noted that the 4.52% growth of Gross Domestic Product (GDP) last June was in line with the BCR's projections.
"The projection for June was in line with what the BCR had forecast. Let us recall that it was mentioned the second quarter rate would be close to 3%, and the June GDP figure of 4.5% is consistent with the Central Reserve Bank's projections," he indicated.
Likewise, the BCR official mentioned that most of the current situation and economic activity expectations indicators remained in the optimistic range last July.
"We are in a context in which economic activity is positioned around its potential level," he emphasized.
On the other hand, Armas pointed out that projections for the global economy have worsened as a result of restrictive measures on foreign trade.
"There is a downside bias due to the high uncertainty about its effects on the global economy, and in this context financial markets remain volatile," he stated.