Inflation in Peru will not surpass 2.2 percent, BCR estimates

Isabel Guerra

Inflation in Peru will not surpass 2.2 percent, estimates BCRThe President of Peru’s Central Reserve Bank, Julio Velarde, estimates that inflation in Peru is “under control” for the next two years, and that it will oscillate between 2.1% and 2.2%.

Regarding the fiscal deficit, he said it would be politically impossible for the Peruvian Congress to approve another exemption from the Fiscal Prudence and Transparency Law in order to have a fiscal deficit of over 1% from 2012 onwards.

Velarde said that a fiscal deficit of 1.6% is expected for this year and 1.1% in 2011 considering a deficit projection of 1.5% for 2011.

He also told the press that credits have grown by 12.7% in April, compared to the same month last year, and the Central Reserve Bank expects an advance of 20% by the end of 2010.

According to Velarde, credits in Peru have grown more than in Brazil, Colombia, Chile and Mexico.

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