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Peru's GDP might grow by 2 percent in 2009

LivinginPeru.com
Isabel Guerra

According to Peru21 newspaper, Economic Commission for Latin America and the Caribbean (ECLAC) said that Peru will post one of the highest growth rates in Latin America in 2009, with its Gross Domestic Product (GDP) growing at two percent.

This would be the third highest rise in the region, since the largest increases will be recorded in both Bolivia and Panama (both 2.5%), and Haiti (2.0%).

They also reported that LatAm economy will fall 1.9% in 2009 (its first decline after six years of growth) but will recover in 2010 with an expansion of 3.1%.

"After growing steadily for six years, the Gross Domestic Product (GDP) of the region will shrink by 1.9% in 2009," says the report.

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# David N says :
15 July, 2009 [ 23:50 ]

Not sure how excited I would get. Peru (pop. 29 million) has a GDP approximately the same size as that of the state of Utah (pop 2 million).

# Mike says :
16 July, 2009 [ 09:27 ]

Based on the economic signs I see, I have doubts about hitting 2% at this point.  I though maybe 2.5% earlier, but with imports dropping hard and construction grinding to a halt....

I think the Garcia administration needs to start spending a bit more money (Peru has savings, after all).  It's time to spend some of that savings on infrastructure projects to boost the economy.

# Curtis says :
16 July, 2009 [ 10:14 ]

Peru is doing better than the bankrupt state of California which is similar in popualation.

# Mike says :
16 July, 2009 [ 10:20 ]

That's a meaningless statement.  This isn't about who is doing better than who - it is about what is best for Peru.  Aas well as the truth about the economic conditions, and what is needed to improve them.

But to take up your argument for one moment, are you saying:

1) Peru has lower unemployment?

2) Peru has lower poverty levels?

3) Peru has more opportunity?

Think before you write.

# Curtis says :
16 July, 2009 [ 10:30 ]

Just a stupid meaningless statement only for David N.

# Peruvian says :
16 July, 2009 [ 15:52 ]

The state of Utah has one of the highest rates of home foreclosure rates in the USA - about 1 in 50 homes.

# c.schmidt says :
16 July, 2009 [ 16:15 ]

Deleted for Inappropriate Content
LivinginPeru.com reserves the right to delete any comment containing profanity, political propaganda, spam, insulting language or anything else the editors of this site feel to be in any way offensive. To avoid comment deletion, please use good judgment and try to be respectful of other LiP readers.
Thank you
--The LivinginPeru.com team

# c.schmidt says :
16 July, 2009 [ 16:25 ]

Deleted for Inappropriate Content
LivinginPeru.com reserves the right to delete any comment containing profanity, political propaganda, spam, insulting language or anything else the editors of this site feel to be in any way offensive. To avoid comment deletion, please use good judgment and try to be respectful of other LiP readers.
Thank you
--The LivinginPeru.com team

# annoyed says :
16 July, 2009 [ 17:58 ]

Dear Webmaster,

Any chance stopping those who copy and paste reels of drivel?

# David N says :
16 July, 2009 [ 18:23 ]

40% of Peru lives below the international poverty line...which is around $1 per day.

CA has the 7th largest economy in the world and a median household income of $49,000  UT has a median househole income of $45,230.

Again, I don't know how excited I would get about a 2% increase in Peru's GDP.  It makes no difference to the average Peruvian's horrific living conditions.  The PE government loves to pat themselves on the back with meaningless information.

# Carlos Benavides says :
16 July, 2009 [ 18:31 ]

Deleted for Inappropriate Content.
LivinginPeru.com reserves the right to delete any comment containing profanity, political propaganda, spam, insulting language or anything else the editors of this site feel to be in any way offensive. To avoid comment deletion, please use good judgment and try to be respectful of other LiP readers.
Thank you
--The LivinginPeru.com team

# Mike says :
16 July, 2009 [ 18:46 ]

I don't think it completely meaningless, but I think it would be good to have more realistic numbers.

I am sure Garcia's administration is worried that if the economy starts falling, people will start remembering his first presidency a bit more.  Not to mention that it might scare away investment.

# Oliver says :
17 July, 2009 [ 01:53 ]

2% GROWTH is better than going backwards. and selling the house to China.

# Ricardo says :
17 July, 2009 [ 01:58 ]

David N is from the United States not Chile. Anyone who wants his email and address just ask, I know.............

# c.schmidt says :
17 July, 2009 [ 15:15 ]

Yesterday I was posting a copy from a Nuriel  Roubini article in LIP-
I agree with Mike and GDP is by fact more down than economist unit forecasted (around 4 percent) myself I think we might have to get used to this numbers at least one year more- 
in very general terms- 
The article was http://www.rgemonitor.com/blog/roubini/definitely not spam- mister Roubini seems to be well respected among economists- his analyze can serve as kind of forecast about effects on export here in Peru.  Latest comments from Gerald Celente   I didnt even put. Krugmann always seems to be well balanced  focus and exact.
From my add. private comment yesterday - There was no insult in it- it was a analyze based on facts- anyhow the comment was taken out .It is the third time that comments from me were taken out - for what ever reason.  What matters in deed is that there are several comments-were persons get kind of insulted they stay and the answers are taken out . Strange.  and than from some persons comments who apear full of hate can stay- I dont think it cant be in the spirit of those who want to promote Peru for foreigners but may be it was just a missunderstanding.
In general terms i think LIP does a great job.
Anyhow - many persons anyhow read in between the lines. 

# Carlos Benavides says :
18 July, 2009 [ 01:15 ]

Perus Economy Links:


http://www.youtube.com/watch?v=SYI4FvXgSfY&feature=related

http://www.youtube.com/watch?v=XTsiOrZRwcQ&feature=related


http://www.youtube.com/watch?v=l_BzlTspqCo&feature=related

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