Peru’s exports, DFI and remittances to reach $43.1 billion this year

Peru will receive this year 43.15 billion dollars from increasing exports, Direct Foreign Investment (DFI) and remittances from Peruvians abroad, an increase of 22 percent compared to 35.43 billion dollars registered last year, the Lima Chamber of Commerce (CCL) reported Tuesday.

This year, Peru will receive 2.33 billion dollars from remittances, 8.3 billion from DFI and 32.52 billion from exports.

Moreover, the Lima Chamber of Commerce increased its inflation (Lima Metropolitan Price Index) forecast to 5.4 percent, compared to its previous estimate of 4.8 percent in May.

Inflation increases will be driven by rising international fuel and food prices (imported inflation), such as oil, copper, gold, corn, wheat and soybean oil, and would represent almost 30 percent of total inflation by the end of the year.

Finally, the CCL said that 2008 inflation would be almost three percentage points above the target range set by the Central Reserve Bank (BCR).

News source: ANDINA