Andina

Fin Min: Peru's economy might have grown above 4% in June 2024

Photo: Courtesy

Photo: Courtesy

08:22 | Lima, Jul. 18.

Economy and Finance Minister Jose Arista indicated the Peruvian economy might have grown between 4% and 5% last June, compared to the same month in 2023, due to good results in leading indicators such as electricity consumption and tax payments.

The Cabinet member mentioned that June "is also doing well," driven by all leading indicators, such as electricity consumption, tax payments, General Sales Tax, and the volume of sales conducted via electronic means.

"Other colleagues and (forecasting) firms tell us that June is going well. We expect growth, perhaps not quite at 5%, but between 4% and 5%," Arista indicated.

The minister said that "inflation is under control, too; the only issue we have there is that the Central (Reserve) Bank has decided to keep its interest rate on the higher side."

"We hope that soon this variable will also move in the direction we would like, with the aim of reinvigorating the financial market, which has been a bit sluggish lately," he added.

Remarks were made during his participation at a press conference following the Council of Ministers session at the Lima-based Government Palace on Wednesday afternoon.

Last May, Peru's economy grew 5.04% compared to the same month last year, driven by positive performance across almost every sector, with the exception of Finance and Insurance.

(END) MDV/MVB

Published: 7/18/2024