LIMA, Oct 9 (Reuters) - The Central Bank of Peru said on Friday the economy had likely contracted at least 10.5% in the third quarter, ravaged by health measures to curb the coronavirus in the hard-hit South American nation.
The bank’s economic studies director, Adrián Armas, said on a conference call that stimulus and public investment would help fuel growth in 2021. Armas said he expected Gross Domestic Product to fall between 5.5% and 6.5% in the fourth quarter.
Peru is deep in recession after registering a 30.2% year-on-year drop in GDP between April and June, the second consecutive quarterly contraction.
The Central Bank expects GDP to plunge 12.7% in 2020, the deepest downturn in a century.
Reporting by Ana María Cervantes; Writing by Dave Sherwood; Editing by Richard Chang
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