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Economic Growth Expected To Pick Up In Q2 And Q3

PERU
  • Peru’s economy could grow 3% in the second quarter and accelerate after that, central bank chief economist Adrian Armas told reporters on Friday. – Bloomberg
    • Armas said that the BCRP maintains its 3% GDP growth forecast for this year, up from a 0.6% contraction in 2023.
    • He also said that poverty is likely to fall in Peru this year, due to strong economic growth. This follows a report this week that poverty hit an 11-year high in Peru last year.
    • March economic activity is due next Wednesday, with analysts expecting a slowdown in GDP growth to 1.0% y/y, from 2.8%. Armas said that the economy is seen slightly deteriorating in April according to industry expectations (not official estimates), but it would still be above February levels.
    • Inflation will continue to slow down in the coming months to stay within the target range of around 2%.
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