Francisco Grippa
Francisco Grippa
Principal Economist

Francisco Grippa is Principal Economist of BBVA Research in Peru. Francisco is in charge of a team focused on the macro assessment of the Peruvian economy. Besides, he is a lecturer at the Economics and Finance Faculty in Universidad del Pacífico.

Francisco has previously been the Peruvian ViceMinister of SME and Industry, President of the Board at the Peruvian Research and Competitiveness Fund (FIDECOM), and Member of the Board at the Labour Training and Employment Promotion Fund (FONDOEMPLEO), the Innovation, Science, and Technology Fund (FINCYT), and the Commission for Promoting Peruvian Exports and Tourism (PROMPERÚ), among other similar positions. He has also worked leading the Peruvian Central Bank’s monetary policy department.

He holds a MSc in Economics from the London School of Economics and Political Science (London, UK), a MSc in Finance from the Graduate Programme in Economics, Finance, and Management at Universitat Pompeu Fabra (Barcelona, Spain), and a BA from Universidad del Pacífico (Lima, Peru). Francisco’s research includes macroeconomics issues such as monetary policy, inflation targeting, dollarisation, among others, and sectoral analysis.

Latest publications

After growing 3.5% YoY in the first half of the year, activity will slow down in the second half, resulting in GDP growth of 2.3% in 2022. For 2023, we expect a 2.5% expansion, driven by the recovery of mining and tourism that will compensate for a weak external environment and the downturn in public investment.
Considering the more favorable trend of private spending and households’ early access to private pension funds, output growth forecast for 2022 has been raised to 2,3%, while that for 2023 remains at 2,8% given that the deterioration of the external environment is expected to be offset by the recovery of mining production.
Economic activity grew 2.3% year-on-year in May. On the positive side, the non-primary component of GDP stood out again. On the primary side, however, a decline will be lost, even more pronounced than in previous months.