LatinNews Daily - 03 November 2022

In brief: Peru’s central bank applauds economic trajectory

* The director of Peru’s central bank (BCRP), Julio Velarde, has praised the country’s economic trajectory and compared it favourably with other nations in Latin America and in Europe. Velarde said that the BCRP expects Peru’s economy to grow by 3% in 2023, exceeding growth forecasts for Colombia, Mexico, Brazil, Argentina and Chile. He said that annual inflation is expected to return to its target range of 1-3% in 2023, but that “we expect to close this year at 7.8%” – down from the 8.64% that was registered in October by the national statistics institute (Inei). Velarde partially attributed Peru’s positive performance to the absence of any radical economic reforms from the government led by President Pedro Castillo, who was elected on a far-left platform 15 months ago. “The great fear that existed when the government began has disappeared, because nobody [now] expects major radicalism,” he said.

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