Analysis by Region - Latin America - Peru

Analysis by Region - Latin America - Peru

We downgraded our 2022 GDP growth forecast for Peru by 0.5ppt to 2.2% as less expansive fiscal policies and higher interest rates will slow the economy. While GDP grew by a decent 0.9% q/q in Q1, prospects for Q2 were cut to -0.8% q/q due to social unrest including a truckers' strike that is hitting mining production and services. In 2023, we expect GDP to grow by 3.7%.

Peru: Growth is losing momentum amid political uncertainty
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Economic development
Structure of the economy
Balance of payments
Policy and politics

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