:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/NKVPZXBUWZCAZLETWZSWA7TIJA.png "Peru’s economy slowed more than expected in 2022")
At the end of 2022, the Economy of Peru slowed down more than expected in a scenario of political crisis there social discontent which has been behind a wave of protests since December last year that has had a negative impact on important sectors such as mining, tourism and agriculture.
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Scotiabank’s Economics Department expects domestic inflation in February to be somewhat higher than in January, due to higher average fuel prices, despite the recent cut in services. transportation and certain foods.
according National Institute of Statistics and Informatics (INEI)national production increased by 2.68% in 2022, below the level expected by analysts, while, in the last month of last year, the economic activity it only increased by 0.86% compared to the same month of 2021.
In December, the sectors that have contracted the most These were industry, finance and insurance, telecommunications, agriculture and fisheries. Meanwhile, those that showed the strongest growth were mining and hydrocarbons, construction, trade, accommodation and food services, transport and warehousing and other services.
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Similarly, in December, the good performance of the other service sector with a predominance of creative, artistic and entertainment activitieslibraries and archives, gambling and betting, activities of sports clubs, amusement parks and theme parks, and repair services for computers and household goods.
According to the main components of the domestic demand, investment in construction recorded an increase of 2.96% supported by the increase in the physical progress of works by local authorities, with dynamism in the segments of building, road infrastructure, base and risk prevention work; also increased the household consumptions, reflected in retail sales, which showed a variation of 2.48%
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This result is based on December 2021, the month in which gradual resumption of economic activities started in May 2020, as part of the extension of the national state of emergency due to the presence of covid-19 in the country.
Throughout 2022, the sectors contributing the most to growth These were sectors such as accommodation and catering, transport and warehousing, trade, agriculture, construction and other services.
“There annual rate recorded evidence a slowing economic growthexplained in part by the acute situation that the country is going through on the social level, accompanied by the delays of the pandemic”, declared the HERE in your report.
Meanwhile, the seasonally adjusted national production index for December 2022 registered a change of -0.24%, compared to the immediately preceding month, the national statistics agency reported.
Financial services holding company Credicorp has lowered its forecast for Gross Domestic Product (GDP) of Peru for this year. In December 2022, the entity estimated that the peruvian economy it would increase by 2.3% in 2023; however, they now expect it to end at 2.0%.
During a meeting with investors, the financial group anticipated that the peruvian economy would have increased by 1.6% in the fourth quarter, a result mainly explained by the mining sector, which was partially offset by the slowdown in non-primary activities due to a less dynamic private consumption and an less private investment.
“The last quarter of the year presented additional challenges, which have yet to be fully assessed, for our business and for the country,” he said. Gianfranco Ferrari, CEO of Credicorp.