Peruvian economy grew by 4% in April, surpassing expectations.

During his presentation at the Congress of the Republic, the Minister of Economy and Finance (MEF), José Arista, caused a stir by announcing that the Peruvian economy had grown by 4% in the month of April, a figure that exceeds the government's previous expectations. This news was backed by the Central Reserve Bank of Peru (BCRP), whose Central Manager of Economic Studies, Adrián Armas, indicated that the BCRP's projections point to an even higher growth than that estimated by the MEF for the month of May. According to Armas, the primary sector has been the main driver of this growth, with a significant increase in fishing and in the agricultural sector leading to double-digit growth in the primary GDP. These surprising data have led to an upward revision of the government's initial projections, which now expected a growth of 3.2% for the month of April. Teodoro Crisólogo, senior economist at the Peruvian Institute of Economics (IPE), explained that the possible 4% growth in April would be the highest recorded in the last 27 months, highlighting the positive effects of good weather on agricultural and fishing production. This positive result has generated positive expectations in the market, which was expecting a more moderate growth of 2.2%. The rebound in the Peruvian economy during the month of April is boosted by seasonal factors such as Easter, which has contributed to the recovery of key sectors such as fishing and agriculture. Despite the drop in GDP in March, the first quarter of the year closed with a growth of 1.38%, indicating a positive trend in the national economy. The BCRP is preparing to present its second inflation report of the year next week, maintaining a growth projection of 3% for the GDP of 2024. Meanwhile, the MEF aims to achieve slightly higher growth, at 3.1%. These figures reflect the authorities' confidence in the positive evolution of the Peruvian economy, which seeks to consolidate its growth and avoid setbacks in the second half of the year. In conclusion, the possible 4% growth in GDP during the month of April represents an encouraging sign for the Peruvian economy, which shows signs of recovery and strength in key sectors such as fishing and agriculture. The optimistic projections of the government and the BCRP reflect confidence in the country's growth potential, which aims to maintain a positive path amid a challenging global economic context. More details on the evolution of the Peruvian economy are expected next week, which could consolidate its recovery in the coming months.