BCR: Peruvian economy might experience growth in 1Q 2024

18:00 | Lima, Feb. 9.

The Central Reserve Bank (BCR) on Friday indicated that Peru's economy would once again register growth during the first quarter of this year, considering a strong reactivation in the construction sector last January.

"Last January, a significant recovery was observed in the construction sector; thus, we would be expecting growth to be recorded in the first quarter of 2024," BCR Economic Studies Central Manager Adrian Armas said.

"It would be the first quarter of growth, after four consecutive quarters of decline, as was what we had in 2023," he added.

The official emphasized that the BCR has not changed its projection which claimed that Peru's economy declined 0.5% in 2023.

"The Central Bank maintains its projection of a half-percentage decline in gross domestic product (GDP) for 2023; there is no news in that field," he stated.

The official GDP growth data for December last year and for all of 2023 will be published by the National Institute of Statistics and Informatics (INEI) on February 15.


The BCR official explained that, in January 2024, the economic activity's leading indicators showed mixed results, while the those of expectations experienced recovery.

"Most of the indicators still remain in the pessimistic range," he mentioned.

On the other hand, Armas affirmed that the prospects for global economic activity point towards moderate growth in a global context of lower inflationary pressures.

"However, risks associated with international conflicts remain, with adverse effects on fuel and freight prices," he concluded.


Publicado: 9/2/2024