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Hugo Vega
Hugo Vega
BBVA Research - Senior Economist

Hugo Vega is currently a Senior Economist from the BBVA Research Peru Unit. He is part of a team devoted to macroanalysis of the Peruvian economy. He is also a professor and teaches the Master’s Degree in Economics at the Pontifical Catholic University of Peru and the Faculty of Economics of the University of Piura.


Prior to this, he was an Assistant Manager of Investment Strategy at AFP Integra and he has also worked within the Management of Economic Studies at the Central Reserve Bank of Peru, where he led the Monetary Programme.


Hugo has a PhD in Economics from the London School of Economics and Political Science (London, UK). He has published a number of papers on macroeconomic issues such as monetary policy, macroprudential tools, financial friction.

Latest publications

GDP contracted 0.3% YoY in March. This result was influenced by the fact that some activities were affected by two fewer days of productive activity given that Easter was scheduled on March 28 and 29 in 2024, while in 2023 it was celebrated on April 6 and 7. This effect will be reversed next month.
The consumer price index contracted 0.05% MoM in April. The result for the month is explained by supply and seasonal factors. The year-on-year rate was 2.4% (3.0% in March) within the Central Bank's target range.
GDP grew 2.8% YoY in February. This result was influenced by the additional day of activity due to the fact that 2024 is a leap year and the low YoY comparison base. The growth of the mining sector and some sectors of non-primary GDP stood out.