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PERU: Congress Votes On Motion To Fire Finance Minister, Economic Activity Due

PERU
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  • Peru’s Congress will vote on a motion whether to fire Finance Minister Jose Arista on Wednesday, according to a statement posted on its website. Arista has been in the role since February and is the second finance minister to serve under President Boluarte. According to Bloomberg, Congress would need a majority of votes in order to fire Arista, who has been criticised over a bailout for Petroperu and a growing fiscal deficit.
  • Data wise, August economic activity figures are due at 1600BST(1100ET), with analysts expecting growth to moderate to 3.4% y/y, from 4.5%. Last week, BCRP chief economist Adrian Armas said that he expected the economy to grow by 3.5-3.7% in August, adding that he did not expect recent strike action to have a major impact on growth. Meanwhile, September unemployment data will also cross at 1600BST, with consensus there for the Lima unemployment rate to tick up to 6.2% last month.
    • Aug. Economic Activity YoY, est. 3.4%, prior 4.5%
    • Sept. Lima Unemployment Rate, est. 6.2%, prior 6.1%
  • Separately, the BCRP is due to hold an event on the stabilisation of dual-currency economies at 1700BST(1200ET).
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  • Peru’s Congress will vote on a motion whether to fire Finance Minister Jose Arista on Wednesday, according to a statement posted on its website. Arista has been in the role since February and is the second finance minister to serve under President Boluarte. According to Bloomberg, Congress would need a majority of votes in order to fire Arista, who has been criticised over a bailout for Petroperu and a growing fiscal deficit.
  • Data wise, August economic activity figures are due at 1600BST(1100ET), with analysts expecting growth to moderate to 3.4% y/y, from 4.5%. Last week, BCRP chief economist Adrian Armas said that he expected the economy to grow by 3.5-3.7% in August, adding that he did not expect recent strike action to have a major impact on growth. Meanwhile, September unemployment data will also cross at 1600BST, with consensus there for the Lima unemployment rate to tick up to 6.2% last month.
    • Aug. Economic Activity YoY, est. 3.4%, prior 4.5%
    • Sept. Lima Unemployment Rate, est. 6.2%, prior 6.1%
  • Separately, the BCRP is due to hold an event on the stabilisation of dual-currency economies at 1700BST(1200ET).