Peru sees 2% economic growth in November, boosted by key indicators

LIMA, Jan 9 (Reuters) - The chief economist for Peru's central bank, Adrian Armas, on Friday said the country's gross domestic product (GDP) likely grew 2% year-on-year in November, as he praised strong economic performance.

Peru's central bank late in December said it expected 3% growth in 2026, and the same rate in 2027.

The first months of this year could however see a slower pace of growth, Armas said, assuming some impact from the presidential elections due in April.

For now, he pointed to a strong increase in cement consumption and formal employment in December, inflation under control, a "fairly solid" payments balance, and a declining fiscal deficit.

Peru ended last year with inflation at 1.5%, the lowest rate in eight years and within the bank's target of 1% to 3%.

The central bank, which has gradually lowered its interest rate from a high of 7.75% at the beginning of 2023, kept its benchmark rate stable at 4.25% on Thursday, its fourth consecutive hold and in line with analysts' expectations.