on Friday raised the growth projection for Peru's domestic demand from 9.6% to 10.3% for 2021.
BCR Governor Julio Velarde indicated that growth in 2021 would be supported by the dynamism of domestic demand following the relaxation of sanitary measures in addition to external demand recovery.
"In 2022, the growth rate may stand at 4.5%. The projection scenario assumes an environment of
macroeconomic stability and policies that favor investment and the creation of productive employment," he expressed.
Leading growth
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Public investment continued to grow in May, expanding 477.9% year-on-year and 40.6% compared to the same month in 2019."
Likewise, he stressed that the number of formal jobs nationwide continued to recover. In fact, it showed a positive year-on-year growth rate last April after 13 months.
"Private formal employment in April grew 3.8% year-on-year, mainly driven by the increase in
construction sector jobs. However, it is still 4.8% below the level observed in the same month of 2019, in line with the slow recovery of employment in the service sector," he indicated.
More formal companies
Velarde also stressed that there are more formal companies in Peru.
"Last April, 314,000 private sector companies reported employment-related information, indicating that the number of them rose by 1.5% compared to April 2019 (and 3.4% over the same period of 2020), mainly in the construction and commerce sectors," he added.