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Peru's economy projected to grow 9 percent in 2008

Peruvian finance minister Luis Valdivieso said Thursday that growth of Peru's gross domestic product (GDP) for this year is expected to be about 9.0 percent, equal to the growth rate in the GDP posted last year.

"Growth in the economy will be about 9.0 percent," he said at a press conference.

Valdivieso also mentioned that the country's fiscal surplus is expected to be more than the 2.0 percent of the GDP that the finance ministry had originally forecast.

"We expect that the fiscal surplus will be more than 2.0 percent of GDP, but the question is by how much," he said.

He said that the consumer price index is expected to end the year at around 5.7 or 5.8 percent, "which would be the same rate that was posted in July."

In the 12-month period through July, the consumer price index for Lima rose 5.79 percent.

The Central Reserve Bank of Peru aims to keep inflation in a band from 1.0 to 3.0 percent.

Valdivieso gave the forecasts at a press conference following a speech he gave in Congress.

In that speech he forecast that inflation will be 3.5 percent in 2009.

News source: ANDINA

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# David N says :
23 August, 2008 [ 18:08 ]

So what does Luis Valdivieso want?  A pat on the back and a cigar? 9%??  He has the guts to hold a press conference over 9%??  Newsflash, Luis - Peru's economy could grow by 900% and people would still be living in filth and starving.  All while government officials hold press conferences, fix up old fighter planes, and buy themselves satellite phones.  

These politicians that hold press conferences like they're superheroes saving the world really tick me off. 

# carl says :
24 August, 2008 [ 08:21 ]

What really tick you off, is that we are growing more than your country.

# christine schmidt says :
27 August, 2008 [ 15:46 ]

the minister of economy has just a few month we cant judge him or blame him for anything yet what happens in Peru 
a few days ago he was asked in a tv program about inflation measure. He gave an sample about the raising up from prize of coking oil- like shop next corner 9 soles,  in Breña farer away   6 soles and in chaclacayo 4 soles50 – and he recommend just to go a little bit farer to bye products who are raised up to get them cheaper .(The trip to chaclacayo from Lima up and down would bring us at the end to 12 soles for the coking oil)- anyhow I wish him luck in his office and found this on the red.


found in "the economist " under country briefing PeruPeru-
Angry down south Jul 10th 2008 | PUNO
From The Economist print editionWould-be populists everywhere LAST year the economy grew by 9% and poverty fell by five percentage points. But many Peruvians feel their lot is not improving fast enough. That is especially so in the country’s southern Andes. On July 8th-9th trade unions staged a general strike, claiming the government had reneged on various promises. While having little impact in Lima, the strike was widely backed in southern towns, with protesters blocking roads and the railway to the Inca ruins at Machu Picchu. Earlier this month miners struck to demand a bigger share of bumper mining profits. In the same cause a group in the southern department of Moquegua last month took scores of police hostage and burned government offices. But it is to Puno, a poor and remote region of 1.3m on the border with Bolivia, that those Peruvians who fear an impending populist shift look most closely. The head of its regional government, Hernán Fuentes, clashes regularly with Peru’s president, Alan García. He has attempted to legalise production of coca, the shrub from which cocaine is extracted. He is pushing for sweeping local autonomy. He is a fan of the socialist nationalism pursued by Venezuela’s Hugo Chávez and Bolivia’s Evo Morales, while abhorring Mr García’s economic liberalism. The president and Mr Fuentes accuse each other of failing to implement government measures to help Puno, such as laws to create a second university there and a free-trade zone. “We are like oil and water,” Mr Fuentes says. “We have different ideas about Peru’s political, economic and social future.” Mr Fuentes was elected for a small party headed by Antauro Humala, a former army officer who staged an attempted coup against the democratic government in 2005, an incident in which five people were killed. Mr Humala’s elder brother, Ollanta, narrowly lost the presidential election to Mr García despite—or rather because of—having noisy backing (and probably money) from Mr Chávez.It is Mr Fuentes’s ties with Mr Chávez, real or not, which cause alarm in Lima. He set up several Casas de ALBA, centres which promote friendship with Venezuela and send patients at its expense for free cataract operations there. Venezuela denies paying for these centres’ political activities, and Peru’s government has found no evidence of this. But Peru’s Congress is conducting its own investigation.Mr Fuentes insists this will find nothing. Rather than from his antics, a populist threat in Peru at the next election in 2011 may once again come from Ollanta Humala. He is doing his best to appear moderate. But his proposal to increase the taxes on mining and oil companies commands widespread popular support.

(my short add- this article should be a weak up  call to react strongly on social demands, institutional reforms especially in justice , fight against corruption and against mediocricy in any field  ,and some journalists who used press freedom to serve in particular private interests and manipulate public opinion against the demand of a mayority of Peruvians should evaluate their job )    

# christine schmidt says :
29 August, 2008 [ 16:23 ]

(desde un periodico de hoy dia- sin comentario- estoy evaluando papas en el techo.....) lo dijo en serio??????????????????????????????????????????????????????

Velarde recomienda sembrar hortalizas para generar ahorro

# christine schmidt says :
29 August, 2008 [ 18:08 ]

Velarde recomienda sembrar hortalizas para generar ahorro