*Peru’s President
Dina Boluarte has told German investors that Peru’s GDP will grow 3.1% in the period 2024-2027. Speaking at an event in the German city of Stuttgart, organised by the Association for Latin America (Lateinamerika Verein e.V.), a business networking platform for German businesses interested in Latin America, President Boluarte said Peru is “
a reliable partner in the international arena” citing “
an economic policy characterised by macroeconomic discipline, fiscal solvency, and trade openness”. Her government’s projections for 2024-2027 come as Peru’s central bank (BCRP)
recently lowered its GDP growth forecast for 2023 from 2.2% to 0.9%, citing supply shocks, low levels of business confidence, and challenging climatic conditions. However, the bank predicted that growth would rise to 3.0% in 2024 due to a “
partial reversal” of supply shocks, reduced inflation, and a recovery of internal demand. At the event, Boluarte, who was accompanied by her foreign minister,
Ana Cecilia Gervasi, and economy & finance minister,
Alex Contreras, also highlighted the “
good bilateral relationship” between Peru and Germany. State news agency Andina cites her as saying that Germany is the fifth-largest investor in Peru, as well as its second most important partner in the European Union while bilateral trade amounted to US$1.2bn between January and July 2023.
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