Peru slashes growth outlook amid falling copper investment

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By Marco Aquino LIMA (Reuters) - Peru lowered its economic growth forecasts for 2023 and 2024 on Tuesday amid poor weather, lower private investment in ...

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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