Andina

BCR: Peruvian economy might grow around 3.5% in 3Q 2024

Photo: ANDINA/Jhonel Rodríguez Robles

Photo: ANDINA/Jhonel Rodríguez Robles

15:00 | Lima, Sep. 13.

The Central Reserve Bank (BCR) on Friday projected that Peru's economy might grow around 3.5% in the third quarter of this year (July-August-September), and estimated that it might have registered a growth close to 4% last July.

"The indicators we are observing for the month of July show that GDP could be growing by around 4%," said BCR Economic Studies Central Manager Adrian Armas.

"In general, monthly data, as we have mentioned before, tend to be volatile. As for the third quarter, based on indicators, it (GDP growth) would be around 3.5%," he added.

The official data on gross domestic product (GDP) growth in July of this year will be published on September 15 by the National Institute of Statistics and Informatics (INEI).

The BCR will release its macroeconomic projections on September 20 through its Inflation Report.

"The economy is recovering as expected. These figures are always updated with new information, and the Central Bank's projection will be presented next Friday," Armas stated.

The BCR official also said the business confidence survey shows that most indicators are in the optimistic range for the fourth consecutive month.

"So far this year, five of the eight months that have passed in 2024 have been in the optimistic range," he noted.

On the other hand, Armas indicated that the outlook for global economic activity points towards moderate growth, within a context of lower inflationary pressures.

"However, there has been increased volatility in financial markets and still restrictive international conditions. Risks arising from international conflicts also remain," he concluded.

(END) CNA/MVB

Published: 9/13/2024