The Peruvian economy continues to show a solid recovery after the slowdown recorded in 2023, investment bank BCP Securities noted in its Emerging Markets Adviser report.
"This shows a solid recovery compared to last year's slowdown," it noted
BCP Securities had previously rated June's growth of 0.21% as minimal due to a drop in mining production.
The investment bank also underscored that the
Central Reserve Bank (BCR) raised its fiscal deficit projection for 2024 to 3.3%,
maintaining its 3.1% GDP growth forecast and also revising its private investment growth estimate for 2025 to 4.1%.
It should be noted that the
next monetary policy meeting of the BCR is on September 12, the day on which the future of the reference interest rate will be decided.
The BCR projects a growth of 3.1% for Peru's economy in 2024 and 3% next year, thus maintaining its previous forecasts.