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Economy | 1 June, 2009 [ 09:41 ]

Peru expects economic growth of 4 percent, according to Ambassador Valdivieso


LivinginPeru.com
Isabel Guerra

While much of Latin America is facing negative economic growth this year, Peru is expecting economic growth of 3.5% or 4% in 2009, according to Luis Valdivieso, Peru's ambassador to the United States.

If this actually comes true, Peru will have the highest growth rate of the region.

Last year, Peru's economy grew by more than 9.8%, and Valdivieso says the reason is “the country has been following sound economic polices for years.”

Ambassador Valdivieso is an economist who worked at the IMF for almost 30 years and served as Minister of Finance under Peruvian President Alan García.

Joseph Ganitsky, a University of Miami professor (who specializes in strategic planning and Latin American and international business) agrees with the forecast but also believes that the country faces serious challenges.

"Peruvian government's efforts have focused on small businesses, and that is quite good, but García has missed the opportunity to invest in long-term projects like education and healthcare, that might start addressing Peru's structural problem," said Ganitsky.

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2 Comments

# Mike says :
1 June, 2009 [ 23:44 ]


And Garcia's administration refuses to give out the numbers for April and May now....?

So, if the second quarter is about the same as the first - let's say 2%, and the first is 1.8%, then quarters 3 and 4 need to average 5.1% between them to meet 3.5% exactly.

Ambassador Valdivieso is a fool.  And so is professor Joseph Ganitsky.

# Elenora says :
30 October, 2009 [ 22:47 ]

Well… I visit your website first time and found this site very useful and interesting! Well… you guys doing nice work and I just want to say that keep rocking and keep it up!!!!
Elenora

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