This year the Gross Domestic Product (GDP) would grow 2.2%, less than the 2.8% that would have increased in 2022, projected Kallpa SAB.
The lower advance would be mainly due to the contraction of private investment (-2%) and public outlays (-6%). This amount will be offset by the growth of exports (4%).
“Domestic demand would have growth close to 1.5%, supported by the 2.5% rise in private consumption,” estimated the company that presented the 2023 Coverage Guide.
He also pointed out that the estimates are based on the fact that there will not be a stoppage of mining activity, that the price of copper will be maintained and that political conflicts will continue but without reaching a critical situation.
MINING SECTOR
Kallpa SAB specified that a lower mining investment is estimated for 2023 and expects that progress will be made with medium-sized projects such as San Gabriel.
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“The strong investment that Quellaveco represented will no longer be available. We hope that in the medium term projects such as Yanacocha Sulfuros (US$2,500 MM), Zafranal (US$1,263 million), Magistral (US$490 million) or Corani (US$585 million) can be developed”, he added.
INFLATION AND DOLLAR
Regarding inflation, Kallpa SAB expects it to remain high but with a downward trend. In this way, it expects the Consumer Price Index to be 4%, that is, above the target range of the Central Reserve Bank (between 1% and 3%).
On the other hand, the company estimated that the dollar would be quoted at S/3.85 at the end of the year, that is, it would remain relatively stable.
