Peruvian Growth Will Outpace Other Latin American Markets As COVID-19 Impact Subsides

• Following a historic contraction in 2020, the Peruvian economy will be one of the fastest-growing markets in Latin America in the coming quarters as rebounding private consumption and a surge in investment drive a recovery. 
• While Fitch Solutions is also upbeat on Peru's longer-term growth outlook, it highlights downside risks from the country's COVID-19 vaccine rollout and the April 2021 general election, particularly if the next government vows to re-evaluate the longstanding market-friendly status quo. 
• Fitch Solutions has revised its real GDP growth forecasts to 7.2% y-o-y in 2021 and 4.3% in 2022, from 6.3% and 4.2% previously. In 2020, the economy contracted 11.1%

(Source: Fitch Solutions)