Franklin to stay offshore, but tropical moisture will help deliver mid-week soaking | SaltWireLIMA - Peru lowered its economic growth forecasts for 2023 and 2024 on Tuesday amid poor weather, lower private investment in mining, and anti-government protests earlier this year.
Next year, Peru's economy is expected to grow 3.0%, the ministry added, down from a previous estimate of 3.4%. Peru's fishing industry is also expected to be seriously hit by warmer seas due to the El Nino climate phenomenon, the ministry said. This has devastated production of the anchovy-based fertilizer fishmeal in which Peru leads globally.
Meanwhile, Peru's estimated current account deficit was lowered to 1.6% of GDP, down from the 2.1% of GDP previously expected.
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