Crystal balls: Central Bank predictions for 2015

25 January 2015

Julio Velarde, the president of the central bank (BCRP), predicts that the Peruvian economy will grow this year by 4.8%. This contrasts with an IMF prediction of 4%. According to Velarde, this is the first time the IMF has issued such a projection without consulting the BCRP first. Growth in 2014 fell to around 2.4%, a sharp downturn on previous years, a figure that contrasts markedly with the optimistic projections made by officials this time last year. The Peruvian economy has been badly hit by the fall in prices for key mineral exports and the slow-down in the development of key investment projects.

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