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Central Bank President Expects 2% Growth In Third Quarter

PERU
  • According to central bank president Julio Velarde, the BCRP expects the economy to grow around 2% in Q3 this year and close to 4% in Q4, La Republica reported.
  • Velarde echoed recent comments from economy minister Alex Contreras, indicating that Peru is not in a technical recession even though the economy has contracted for two straight quarters.
  • Velarde highlighted the gradual recovery of business expectations, which are more optimistic in the long term than in the next three months.
  • For reference, the latest BCRP statement in August included that “the leading and expectations indicators for economic activity in July show a moderate recovery compared to the previous month but remain in pessimistic territory.”

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