Peru's Economic Rebound: A Promising Growth Forecast

Peru's central bank forecasts a 3.2% economic growth for this year, marking recovery after last year's recession with 0.6% GDP contraction. The bank aims to reduce the fiscal deficit, expecting it to drop to 2.2% by 2025, alongside stabilizing inflation at around 2% annually.

In a positive turn for Peru's economy, the central bank has revised its growth forecast upward to 3.2% for this year, reflecting a rebound from last year's recession where GDP fell by 0.6%.

Central Bank Chief Julio Velarde emphasized the need to address the fiscal deficit, projected to decrease to 2.2% of GDP by 2025 from this year's 3.7%.

Moreover, the bank anticipates stabilizing inflation rates, predicting a 2.1% rate in 2024, narrowing to 2% over the subsequent two years, presenting a stable outlook for Peru's economic environment.

(With inputs from agencies.)