Central Reserve Bank (BCR) Governor Julio Velarde on Monday affirmed that Peru's economic recovery will be fast and will begin in the third quarter of this year, but GDP will recover at the same rate it did before the COVID-19 pandemic in the fourth quarter of 2021.
"It seems that the fall is deep, and the recovery will be quick, hopefully Peru will return to pre-pandemic levels in the fourth quarter of 2021," he stated.
What the economist meant to say is that the coronavirus pandemic will cost Peru almost two years of growth.
"If we succeed, GDP will recover to pre-pandemic levels in the fourth quarter of next year or the first quarter of 2022, but if good measures are taken," he added.
"The economic rebound will begin in the third quarter. The rate is difficult to estimate now because we do not know well the conditions in which economic activities will resume. But compared to the second quarter of this year, the third quarter will show a recovery," he added.
The remarks were made in an international webinar entitled "Economic recovery in Peru and Latin America after COVID-19."
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Published: 5/11/2020