Overview
- BCR president Julio Velarde cautioned that a set of recently approved congressional laws is already damaging public accounts and threatens fiscal and macroeconomic stability.
- Velarde labeled the proposal to allow ONP affiliates to withdraw up to 3 UIT as insensate, stressing the ONP is a pay‑as‑you‑go system without individual funds to draw from.
- He argued any replacement pension model should be mandatory and built on individual accounts to protect long‑term sustainability.
- The BCR raised its GDP growth estimates to 3.3% for 2025 and 3.0% for 2026, and now projects private investment will grow 9.5% in 2025 with a strong chance of topping 10%.
- Citing a meeting at the presidential palace, Velarde noted a commitment to close the year with a 2.2% fiscal deficit after a 2.3% reading through November, though he warned political risks remain.