“In July, most of the current situation and expectations indicators were in the optimistic range, which is a result obtained for the third consecutive month and the fourth month of the year,” said Adrián Armas of the BCR.

The Central Reserve Bank (BCR) said on Friday that the Peruvian economy would have registered a growth of around 2.7% in the first half (January to June) of 2024, and has been recovering so far this year.

"With respect to the first half of the year, it is estimated that there would have been a growth of around 2.7%," said the central manager of Economic Studies at the BCR, Adrián Armas.

The official data on gross domestic product (GDP) growth in June and the first half of this year will be published on Thursday, August 15 by the National Institute of Statistics and Informatics (INEI).

The BCR official stressed that the economy has been recovering so far this year.

"In July, most of the current situation and expectations indicators were in the optimistic range, which is a result obtained for the third consecutive month and the fourth month of the year," he said.

“There are signs of a recovery of confidence and in advance data we can see that the wage mass has grown in real terms at a rate of 6.9%. Let us remember that the formal wage mass is made up of the number of workers there are and their respective remuneration,” he added.

"What is growing the most is the average income component and, to a lesser extent, the increase in formal jobs," he said.

On the other hand, Adrián Armas pointed out that the outlook for global economic activity points towards moderate growth, in a context of lower inflationary pressures and still restrictive international financial conditions.

“However, uncertainty remains over the pace of interest rate reductions in advanced economies. Risks arising from international conflicts also remain,” he said.