LatinNews Daily - 27 March 2023

In brief: Peru’s GDP forecast lowered due to protests

* The president of Peru’s central bank (BCRP), Julio Velarde, has said that Peru’s GDP growth forecast for 2023 has been lowered from 2.9% to 2.6%. This, he said, is largely due to the impact of protests against President Dina Boluarte’s government. Speaking at a press conference, Velarde said “we’re expecting lower growth than we were three months ago due to the impact of the protests which were strongest in January… in that month the impact of the protests was nearly 4% of GDP, because we expected growth of around 3%, but it fell more than 1%.” He added that Peru’s economy is not expected to grow in the first quarter of the year due to the impact of the protests and cyclone Yaku, which made landfall in early March.

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