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PERU: Finance Minister Arista Expects At Least 3% Growth Next Year

PERU
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  • Speaking after today’s August economic activity data, Finance Minister Arista has said that he expects GDP growth to be very good in the coming months, with the economy growing over 3.1% this year and at least 3.0% in 2025.
  • His remarks to Peruvian lawmakers come after latest data showed that the economy grew by 3.5% y/y in August, down from 4.5% in July, but marginally above consensus expectations. Between January and August 2024, the economy expanded by 2.88%.
  • Arista faces a vote in Congress tomorrow on a motion on whether to fire him, amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit. Last week, Peru’s Fiscal Council criticised the government for failing to curb the rise in the fiscal deficit, which could have credit rating implications.
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  • Speaking after today’s August economic activity data, Finance Minister Arista has said that he expects GDP growth to be very good in the coming months, with the economy growing over 3.1% this year and at least 3.0% in 2025.
  • His remarks to Peruvian lawmakers come after latest data showed that the economy grew by 3.5% y/y in August, down from 4.5% in July, but marginally above consensus expectations. Between January and August 2024, the economy expanded by 2.88%.
  • Arista faces a vote in Congress tomorrow on a motion on whether to fire him, amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit. Last week, Peru’s Fiscal Council criticised the government for failing to curb the rise in the fiscal deficit, which could have credit rating implications.