During the month, three “climatic conditions” characterized the economic environment.
During April, upward pressure and volatility in the prices of some commodities was high. There was a series of attacks between Israel and Iran, intensifying global fears that the war in the Middle East would escalate. These generated significant upward pressure on oil prices (about a third of production is in the Middle East) and gold (due to demand for safe assets). This pressure eased towards the end of the month, as escalation concerns moderated.
Head of Research
The Government’s main allies, Fuerza Popular and APP, leveraged the crisis triggered by the murder of 13 mine workers in Pataz to strengthen their influence over ministerial appointments.
So far this year, the economic recovery appears to have consolidated, with growth becoming more broad-based. Domestic demand has shown solid performance.
In the first quarter of the year, economic growth remained solid (3.6%). This was the result of a combination of favorable dynamics for GDP.
