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Hugo Vega
Hugo Vega
Senior Economist
Peru

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

We expect output to grow by 3,1% in 2020, a forecast which is similar to the one we made in October, while in 2021 economic activity would grow by 3,5%. The main drivers will be the normalisation of primary activities (mining) and public spending, to which a stronger private spending will be added next year.
After a two-month pause, the Board of the Central Reserve Bank of Peru (BCRP) decided to cut the monetary policy rate by 25 basis points in November, from 2,50% to 2,25%.
We forecast a GDP expansion of 2,5% in 2019, similar to our August forecast. For 2020 we anticipate GDP will grow 3,1% thanks to the normalization of primary activities (mining) and a stronger push from public spending.