# Peru Economic Outlook. December 2023 | BBVA Research

> BBVA Research forecasts Peru's economy will contract 0.4% in 2023 due to successive shocks, including El Niño, before growing about 2% in 2024 and 3.5% in 2025. It expects global growth near 3% in 2023 and 2024, a 3% of GDP fiscal deficit, and the sol trading between 3.75 and 3.85 per dollar by year-end.

- Date: 2023-12-05 · published 2023-12-05T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/32994-peru-economic-outlook-december-2023-bbva-research
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md), [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md)

## Why it matters

A weaker economy and El Niño-related shocks in Peru point to lower feed and fishmeal demand and supply constraints in the region, while a softer sol can make Peruvian exports cheaper. The effect on grain and meal prices is modest.

## Read by commodity

- USDPEN: bearish ▼
- FISHMEAL: neutral

## Sources

- bbvaresearch.com: https://www.bbvaresearch.com/en/publicaciones/peru-economic-outlook-december-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.