Peru: 2021 GDP growth forecast raised to 13.2%

Photo: ANDINA/Vidal Tarqui

11:31 | Lima, Nov. 11.

Central Reserve Bank (BCR) Governor Julio Velarde on Thursday projected that Peruvian economy would grow 13.2% this year, thanks to the policies implemented for a rapid recovery of the country's productive apparatus.

"If the production level reached in August is maintained, economic growth this year would be 13.2%, which is an impressive figure," Velarde expressed.

"We are in a better position than any of the six largest countries in Europe in terms of recovery, at the highest level in the face of the pandemic," he added.

The previous growth projection by the Central Reserve Bank was 11.9%, after having raised it in September from a level of 10.7%.

During a seminar organized by Universidad del Pacifico, the official indicated that only Chile surpasses Peru in terms of growth level. Nonetheless, the latter is above Brazil, Argentina, Colombia, and Mexico.

"Chile has already reached 8% in August, above its pre-pandemic level. It is followed by us (Peru), 2% above. The others, such as Brazil, Argentina, Colombia, and Mexico, are below," Velarde detailed.

The BCR governor stressed that fiscal and monetary policies have been applied since 2020, which are enabling a strong and rapid economic recovery in Peru.

"Such a strong monetary and fiscal stimulus package was applied that we are enjoying it (its results) now. It is not just a rebound; it is a consequence of the policy actions that were taken," Velarde explained.

"There is a very strong recovery, and I think it is a consequence of these policies (…)," he added.

(END) CNA/MVB

Published: 11/11/2021

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Peru: 2021 GDP growth forecast raised to 13.2%

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