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BCR: Peruvian economy to expand 3.4% in 2019

11:02 | Lima, Jul. 7.

Peruvian economy will expand 3.4% in 2019, revising downwards its previous 4% forecast, Central Reserve Bank (BCR) has projected.

"The mining and fishing sectors are expected to recover gradually during the second half," BCR Governor Julio Velarde expressed.

According to the financial entity, the construction (5.4%), farming (4.5%), service (4.1%), and non-primary manufacturing (3.2%) spheres might register the highest expansions.

On the other hand, the performance of the electricity and water (4.3%), trade (3.2%), mining and hydrocarbons (2.2%), primary manufacturing (-5.9%), and fishing (-14.6%) sectors might be varied.

2020

Likewise, BCR maintained the Inca country's GDP growth projection for 2020 at 4%.

"With the standardization of primary production and a greater expansion of non-primary production, GDP might increase 4% in 2020," Velarde added.

Furthermore, the BCR Governor mentioned Peru will remain among the economies that will register the highest growth rates in the region, as it will post the second-highest expansion in 2019 and the highest one in 2020.

(END) DTK/MVB

Published: 7/7/2019

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BCR: Peruvian economy to expand 3.4% in 2019

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