BCR maintains Peru's 3.4% GDP growth projection for 2022

Photo: ANDINA/Carlos Lezama

13:01 | Lima, Mar. 18.

The Central Reserve Bank (BCR) on Friday projected a growth of 3.4% for Peruvian economy in 2022, taking into account that the recovery of national productive activity remains in place.

"This year, we are expecting GDP to grow 3.4%; last year, we (Peruvian economy) grew 13.3%; and we even estimate that growth could have been somewhat higher," said BCR Governor Julio Velarde during the presentation of the latest Inflation Report.

"We are maintaining the figure we had, but with a greater degree of uncertainty. For next year we also maintain the figures (3.2%)," he added.

This way, the issuing entity maintains GDP expansion projections verified in the Inflation Report of December 2021.

"There are many risks, but the indicators we are observing so far would rather point to a slight upward bias (in the growth of Peru's economy for this year)," Velarde explained.

"The scenario is expected to grow more; we have regained levels such as a fairly low deficit compared to the rest of the region, and we are distinguishing ourselves due to a lower debt. If there is a clearer picture, I think investment could be higher," he added.

The BCR governor also showed the expansion projections for primary GDP (5.3%) and non-primary GDP (2.9%) for this year.

(END) CNA/JJN/MVB

Published: 3/18/2022

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BCR maintains Peru's 3.4% GDP growth projection for 2022

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