LIMA, March 21 (NNN-ANDINA) — The World Bank has estimated that the Peruvian economy will see a recovery this year, supported by increased mining production.
According to the latest report “Global Economic Prospects,” presented on Wednesday at the University of Piura (UDEP), Peru’s GDP growth rate will be 2.5% this year and 2.3% in 2025, following the contraction of 0.55% in 2022.
The projected figure is above the average for the Latin American region, which is estimated to grow 2.3% in 2024.
According to Carlos Arteta, manager at the World Bank’s Prospects Group, the main challenges will be external risks such as the escalation of geopolitical tensions, especially in the Middle East, which could disrupt global energy markets and lead to a rise in oil prices, thereby having a greater impact on developing countries.
Likewise, extreme weather events (such as El Niño phenomenon) may become threats targeting sectors such as agriculture, energy, and fishing.
Moreover, Francisco Arroyo, an economist at the World Bank Group, highlighted that inflation in major economies like the United States and China may lead to higher interest rates at central banks for a longer period than initially foreseen.
In his opinion, this would limit the region’s monetary and fiscal policies, which could result in a slowdown in the fight to reduce poverty.
The World Bank will update its economic growth projections for Latin American economies at a conference scheduled for April 11 in Washington, D.C., United States. — NNN-ANDINA
