LatinNews Daily - 12 October 2020

* Adrián Armas, the director of economic studies at Peru’s central bank (BCRP), has reported that the country’s GDP growth figures for the third quarter of the year (which will be finalised in November) are expected to show a contraction of between 10.5% and 11% compared to the same period in 2019. Following a 3.4% year-on-year GDP contraction in the first quarter, and a historic 30.2% drop in the second quarter, Armas further noted that early indicators suggest a decline of between 5.5% and 6.5% is predicted for the fourth quarter. According to the BCRP’s latest forecast, Peru’s economy is expected to contract by 12.7% in 2020; the most recent projections from the World Bank paint a similarly bleak picture, with Peru’s GDP forecast to decline by 12%, making it among the worst-affected economies in the world by the coronavirus (Covid-19) pandemic.

End of preview - This article contains approximately 147 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial