Living in Peru : your everyday companion

The Economic Commission for Latin America and the Caribbean (CEPAL) rose today the growth projection of the Peruvian economy for this year from last May's 7 percent to 8.3 pct, turning Peru into the top economic growth country in the whole region.

Peru has taken Panama‘s first place as the biggest economic growth country in 2008.

Now the Central American nation is ranked second with eight percent, followed by Uruguay (7.5 pct), Cuba (7 pct) and Argentina with 7 percent also.

According to Cepal, Mexico is to register the lowest growth (2.5 percent), as well as Ecuador and Nicaragua (3 percent).

Cepal has also projected that Peru and Panama will lead the regional growth in 2009 with a seven percent economic expansion each.

The executive secretary of the Economic Commission for Latin America and the Caribbean (Cepal), Alicia Bárcena, pointed out that strong Peruvian growth is based on a rising export capacity associated with a 23 percent increase in investment.

Peru's growth was also supported by strong performances in manufacturing, mining, petroleum and trade industries; despite a slowdown in the agricultural sector.

News source: ANDINA