Peru central bank predicts 12.7% economic slump in 2020, slightly worse than previous

Reuters

Published Sep 18, 2020 • Last updated Sep 18, 2020 • < 1 minute read

LIMA — Peru’s economy is set to contract 12.7% this year due to the impact of the coronavirus pandemic, central bank chief Julio Velarde said on Friday, slightly worse than a previous 12.5% estimate which was already the worst in a century.

Velarde also cut the bank’s growth forecast for 2021 to a 11% rebound from a previous 11.5% estimate, underscoring the challenges facing the Andean copper producing country as it looks to revive its economy. (Reporting by Marco Aquino; Writing by Adam Jourdan)

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