LatinNews Daily - 23 June 2025

*Peru’s central bank (BCRP) has revised its GDP growth forecast for 2025 to 3.1%, down from 3.2% in its previous forecast in March. The BCRP maintained its growth forecast for 2026 at 2.9%. The slight drop in the 2025 forecast is due to reduced growth forecasts for the mining and hydrocarbon sectors, with mining growth for 2025 now predicted to be 0.3%, down from 2.0% in the March forecast, and hydrocarbon growth expected to be 4.0%, down from 5.5%. The BCRP highlighted the suspension of operations by Chinese iron ore mining company Shougang last month, due to equipment faults, and reduced natural gas production. These issues were partially offset by improved growth forecasts for the fishing sector, which rose from 2.2% to 8.6%, and for non-primary activities, which rose from 3.3% to 3.4%.

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