Peru’s economy will start recovering in October

Isabel Guerra

Peru’s economy will begin its recovery during the fourth quarter of 2009 with the upcoming business inventory restocking, according to investment bank Credit Suisse.

Carola Sandy, Economist from the amentioned bank’s Department of Research for Latin America, forecasts that this economic recovery will be supported by expansive fiscal and monetary policies.

The economist revealed that, despite some recent issues, according to a survey conducted by Apoyo Consultoría, 64% of companies believe that their stocks will reach a desired level in September; 25% of companies believe that their inventories will remain at a level slightly higher, while only 2% expect to have very high levels of inventories in September.

In addition, Peru’s Finance Minister Luis Carranza expects the GDP to expand by 1.5% this year, and to grow 5% in 2010.

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