Economic analysts reduce expectations of growth of the Peruvian GDP for 2019

Different economic analysts reduced their growth estimate for the Peruvian Gross Domestic Product (GDP) for 2019 from 3.5% to 3.2%.

This figure had already been reduced in the April survey, and once again there is a reduction in the estimate in the growth expectations of the Peruvian economy.

Those were the results of the latest survey of macroeconomic expectations carried out in June and published by the Central Reserve Bank (BCR).

Economic analysts lowered their estimate of Peruvian GDP growth for 2019 from 3.5% to 3.2%. This figure had already been reduced in the April survey, when analysts expected growth of 3.8% for the closing of this year and the results indicated that it would reach 3.5%

For the year 2020, the expectations of economic analysts were also affected. It went from 3.8% to 3.7%.

It is necessary to mention that Carlos Oliva Neyra, head of the Ministry of Economy and Finance (MEF) declared that his portfolio will correct downwards the growth projection of the Peruvian economy for 2019 from 4.2% to a rate close to 3.7%.

This approach was expressed after learning that GDP growth in April was barely 0.02% in relation to the same month of the previous year.

It is a growing rumor that the minister would be replaced this month in the usual changes of ministerial portfolios in July in the Andean country.

Financial companies reduced their growth expectation for Peru this year from 3.7% to 3.3%. In the month of April, it had already fallen from 3.8%. For 2020, their estimates fell in line with the analyses, from 3.8% to 3.6%.

Non-financial companies that participated in the survey also lowered their estimate. According to their expectations, they stated that the Peruvian economy will grow 3.5% this year, below the 3.6% calculated in May, and 3.7% according to the results of April. For 2020, there was a reduction in the estimate from 4% to 3.8%.