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Economic Outlook

01/02/2024

Peruvian economy will grow 2.8% in 2024


In 2024, a more favorable business environment is anticipated than the previous year.

On the international front, despite the lower global momentum, commodity prices will have a relatively favorable evolution for the country. On the one hand, we foresee a moderate slowdown in our main trading partners. In the case of the US, we anticipate lower growth due to i) the lagged effect of contractionary monetary policy, ii) a lower fiscal impulse and iii) the depletion of excess household savings. Meanwhile, the Chinese economy will continue to slow down due to structural factors, as well as difficulties in boosting the real estate sector and greater regulation in the technology sector.

To access the complete report contact us at: contactaSAE@apoyoconsultoria.com

Sofia Patiño

Analyst

OUR PERSPECTIVE

The serious deterioration in the conduct of economic policy in the United States would impact Peru's economic growth mainly in 2026.

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.

Closing of electoral registration: 43 parties eligible to participate, although the visibility of potential candidates is still limited.

The deadline for registering political organizations in the Registry of Political Organizations (ROP) expired on April 12.

Peru's economic growth was dynamic in Q1 2025, although international environment risks have intensified.

The economy maintained a solid growth pace in Q1 2025, around 3.8%, slightly above expectations. Primary sectors, such as agro-exports and fishing, continued to rebound, although they were still affected by weather conditions in Q1 2024.

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