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Peru relies on solid macroeconomic foundations

09:08 | Lima, Jan. 30.

Central Reserve Bank (BCR) Governor Julio Velarde has affirmed Peru relies on solid macroeconomic foundations that enable stability in the exchange rate and sovereign bond yields, despite the current domestic political situation.

According to the official, BCR's projection for the Inca country's economic growth in 2019 stands at 4%. On the other hand, uncertainty has increased in international markets.

However, Velarde stressed foreign investors are interested in Peruvian debt papers.

"(…) This is a country that has very solid macro foundations; in the region, we are one of the most solid (nations)," he expressed.

Less political noise

Likewise, the BCR representative indicated he expects there will be less political noise in the Inca country this year, as well as better performance of public and private investments.

Greater payment capacity

On the other hand, Velarde pointed out the private sector's wage bill has displayed a great expansion in 2018, thus increasing the payment capacity of consumers.

"We have seen that, in the formal private sector, the wage bill has been rising at levels above 7% last year, which means there is a greater capacity to pay loans," he added.

(END) MDV/DTK/MVB

Published: 1/30/2019

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Peru relies on solid macroeconomic foundations

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