Andina

Peru's GDP to grow at 6 percent over next five years

Peru

Peru's financial hub Photo: ANDINA/Carlos Lezama

19:25 | Lima, Mar. 10.

Peru's economy is forecast to expand at an average annual rate of 6 percent over the next five years due to the country's macroeconomics strength, according to The Economist Intelligence Unit (EIU).
"The reported average growth will be a result of the solid macroeconomic management which is not going to change while investments and domestic consumption are expected to remain strong," the head of the EIU's regional team of business researchers, Irena Mia, said.

The senior economist stressed Peru offers many investment opportunities for the domestic market in infrastructure, mining and tourism sectors as the country's booming middle class and its purchasing power is growing.

"Peru is a very attractive destination for investors not only for its natural resources and commodities but also for its potential growth rate," the latest study carried out by the prestigious British journal noted.

Nevertheless, she underlined the Andean nation requires to further enhance some economic aspects in order to tackle difficult issues such as the fall in prices of commodities in the international market.

Mia made these remarks at a press conference on Monday to announce the launching of "Peru Summit 2014", an event organized by The Economist, which is due to be held in Lima on May 13, 2014.

Peru's economic activity soared 5.02 percent in 2013 compared with a year earlier, as growth slowed due to a decline in exports and a weaker domestic demand. 

The country's Central Bank (BCR) has projected a GDP expansion of 6 percent this year.

(END) RRP/AQR/LOG


Published: 3/10/2014