LatinNews Daily - 20 June 2022

In brief: Peru’s growth forecast revised down

*Peru’s central bank (BCRP) has revised the country’s growth forecast to 3.1%, down from its previous forecast of 3.4% in March, citing a less productive primary sector as the cause. The bank says that back in March it forecast that the primary sector would grow 5.3% but this had been reduced to 3.4%. BCRP president Julio Velarde told the local press that this was due to stoppages at key mines such as Las Bambas and Cuajone copper mines. The BCRP report also cites as a reason for the revised growth forecast, a slowdown in exports as a result of the “global deceleration” and notes that there will be no increase in private sector investment in Peru this year but it will, however, grow by 2% in 2023.

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