By Benjamin Mejias and Marco Aquino LIMA (Reuters) - Peru's sol currency, which plunged last year due to political risk, is bouncing back so far in 20.
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The Peruvian economy will register an expansion of 12.2% this year, a projection that has been revised upwards from the 9% estimated last July, considering that the activity has been showing a relatively favorable performance, which is positively surprising, BBVA Research reported on Thursday.
18:00 | Lima, Jul. 21. Peru s trade balance will post a record surplus this and next year, a forecast supported by better international prices in 2021 and the increase in exportable supply in 2022, BBVA Research Chief Economist Hugo Perea affirmed on Wednesday.
He pointed out that a positive trade balance of about US$17 billion will be achieved in 2021, while surplus will reach more than US$18 billion in 2022, due to greater mining production.
Perea explained that this year s surplus should lead to a decline in the exchange rate. However, the political scenario prompted a defensive response from foreign investors. Additionally, dollarization of private portfolios in Peru maintains pressure over the exchange rate, he stated at the presentation of the Peru Situation report.