Lima, Jun. 21 (ANDINA).- Peruvian Finance Minister Luis Carranza said Sunday that Peru will not face an economic recession, because the country expects high growth levels in the third and fourth quarters of 2009.
“We can not say that Peruvian economy is facing an economic recession. The Gross Domestic Product (GDP) grew by 1.8 percent in first quarter, it will register a lower growth in second quarter and an important figure in third and fourth quarter,” he said.
The National Institute of Statistics and Information (INEI) reported that Peruvian productive activity drop to 2.01 percent in April, totaling 93 months of consecutive growth, but nevertheless it registered a 0.93 percent growth in January-April period.
He pointed out that protests in Peruvian jungle may not affect GDP growth in 2009.
He added that the government's economic stimulus package (ESP) designed to face the international crisis is working and it is been applied with success; but in some cases they are reassigning resources.
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