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Central Bank downgrades projections for Peru for 2023: private investment would fall 0.5%

The Central Reserve Bank of Peru (BCR) lowered most of its projections for the Peruvian economy for 2023 as the country continues to face a social and political crisis that affected its economy in January and a more complex global outlook.

The BCR now expects private investment to contract by 0.5% at the end of this year, 1.5 percentage points below the projections of the December 2022 Inflation Report (1%).

Meanwhile, the monetary entity expects the Peruvian economy to grow 2.6% this 2023, below the previous 2.9% projection.

"On the spending side, social conflicts negatively affected . . .

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