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BCR raises Peru's 2021 growth projection to 11.5%

12:01 | Lima, Dec. 18.

The Central Reserve Bank (BCR) on Friday raised Peru's growth projection from 11% to 11.5% for 2021 in a context in which the national economic recovery is coming strong.

"The recovery of the Peruvian economy is coming strong and faster than in other countries, and November is looking good," BCR Governor Julio Velarde expressed.

Likewise, the official improved the estimate for this year (2020) by reducing the expected fall from a level of -12.7% —as published in the September inflation report— to -11.5% —according to the latest one.

"All indicators point to a quick recovery. Expectations are being much more positive, and we expect private investment to do very well next year," he noted.

"Our economy is expected to recover in 2022, but it may recover in 2021 if the stars align; that means if there is no political uncertainty, if the elections do not have a major impact, and if vaccines are not delayed," Velarde concluded.

(END) JJN/MVB

Published: 12/18/2020

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BCR raises Peru's 2021 growth projection to 11.5%

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