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%.
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