—a document that contains the official macroeconomic projections, approved at a session of the Council of Ministers, relying on prior opinion from the Fiscal Council.
It serves as input for the preparation of the Public Sector Budget Draft Bill for the Fiscal Year 2022.
For 2021, GDP growth projection was revised upwards to 10.5% —as a result of the strong recovery in economic activity driven by both external and internal factors.
The recent measures implemented by the current administration to promote the recovery of production and employment, as well as provide relief to families, stand out.
For the year 2022, the economy will maintain its dynamism. According to the projection, it would grow 4.8%, driven by the increase in private spending, the advance of exports (given the higher production at Mina Justa and the gradual startup at Quellaveco) and the improvement in external demand —in an environment of greater control of the COVID-19 pandemic and mass vaccination of the population.
Thus, pre-pandemic GDP levels will be reached (in annual terms) by 2022.
With this, Peru will become one of the countries to lead growth rates worldwide in 2021 and 2022 —in a context of macroeconomic strengths recovery essential for supporting sustained growth.