Peru’s economy, one of the fastest growing and most stable in region, is set to pass the economies of Mexico, Chile and Brazil this year, according to projections from the International Monetary Fund, Peru’s banking association Asbanc reported Friday.
According to the latest report on the world's economic outlook based on fiscal years data gathered by IMF, Peru is projected to grow 3.6 percent in 2014 and overtake Mexico (2.39 percent), Chile (2 percent) and Brazil (0.3 percent), just to mention a few.
However, Asbanc warned there are risks that could slow down the projected growth rate and might even negatively impact the country’s economic expansion next year.
One of the risks that could affect the performance of the Latin American economy is that its principal business partners are not dynamic enough to keep up with the demand for the region’s products.
And this in a context in which economies like the United States, the Euro Zone and China have not achieved growth expectations for the first part of 2014.
“This way, if current growth forecasts for these countries are not achieved, the Latin American growth domestic product (GDP) is not likely to reach the IMF’s projection,” an Asbanc analyst reported.
(END) JJN/JJN/RMB
Published: 10/24/2014