Protests in Peru will affect economy-Central Bank
2023.01.13 14:30
Protests in Peru will affect economy-Central Bank
By Tiffany Smith
Budrigannews.com – A senior official from Peru’s central bank stated on Friday that the country’s economy likely expanded by slightly less than 2.9% in the past year. This suggests that the South American nation’s economy expanded less than previously anticipated, in part due to an explosion of social unrest that began in December.
In a call, the head of the bank’s economic studies unit, Adrian Armas, stated that growth for 2022 was not anticipated to reach the November forecast of 3%.
Following the impeachment of former leftist President Pedro Castillo, who attempted to illegally dissolve Congress on December 7, protesters demanded that President Dina Boluarte step down. This week, more than 40 people died.
In a call, Armas said that inflationary pressures have been there all month.
Armas stated, “What we are seeing is that sadly the pressures on perishable food continue.”
He went on to say, “Certainly the (unrest) problems we have in the south are generating significant price increases,” and he explained that “multiple” roadblocks have hampered supply chains.
In 2022, Peru’s inflation rate was 8.46 percent.
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