Central Bank chief expects Peru’s economy to grow by 10 percent in June

Peru’s Central Bank chief estimates that the country’s economy could grow by approximately least 10 percent in June, state news agency Andina reported.

“In June, we expect a spectacular figure,” Central Bank President Julio Velarde said. “I won’t say how much it will be but, since growth in June last year was not so good, this year the growth could be close to two digits.”

Peru’s economy grew by 9.3 percent in April and 9.2 percent in May and inflation poses a risk if it continues to grow at similar levels, Velarde said.

He added, however, that inflation is under control and is the lowest in the last 12 months if energy and food are excluded.

“Inflation in the United States last year was ten times Peru’s and this year it will be similar,” Velarde said.

In addition, the stability of Peru’s currency, the Nuevo Sol, will be helped by recent purchases of dollar by the government, according to Velarde.

On Thursday, the central bank purchased $240 million at an average rate of 2.823 soles per dollar.

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