The Central Reserve Bank of Peru (BCR) projected today that the Peruvian economy would grow around 3.5% in the second quarter of this year (April-May-June).
“Next week the projections for the year will be presented, but for the second quarter there is an estimate of GDP growth of around 3.5%”, said the central manager of Economic Studies of the BCR, Adrián Armas.
It should be noted that the official growth data for the gross domestic product (GDP) in April this year will be published next Wednesday, June 15, by the National Institute of Statistics and Informatics (INEI). While the BCR will present its Inflation Report on Friday, June 17, with updated growth projections for the Peruvian economy.
Adrián Armas recalled that, in March 2022, economic activity continued to be above the pre-pandemic level, considering that the sectors most intensive in human contact have been recovering with advances in mass vaccination.
“The data for the first quarter of 2022 show a growth of 3.8%, mainly due to the advance of the non-primary GDP, which grows 5%, that is, it has been observed that on the side of internal demand there is a significant increase in consumption. private”he referred.
leading indicators
The BCR official maintained that the advanced indicators of economic activity for May 2022 indicate that the recovery of private consumption is maintained.
Adrián Armas indicated that the growth of electricity production in May of this year was 2.5% above the level reported in the same month of 2021.
Regarding the internal consumption of cement, he pointed out that there is an increase of 3.2% in the fifth month of 2022, compared to what was achieved in May of last year.
Also, the BCR official said that most business expectations about the Peruvian economy remain pessimistic, but have recovered in May.
On the other hand, Adrián Armas referred that world economic activity has been recovering at a slower rate due to the persistence of “bottlenecks” in the global supply of goods and services, the reversal of monetary stimuli in advanced countries, the confinement measures in China and international conflicts.
“The significant and continuous increase in international energy and food prices since the second half of last year, accentuated by international conflicts, has led to a strong increase in inflation rates at a global level in magnitudes not seen in many years in the advanced economies and the regioncommented.
