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Peru seen posting LatAm’s highest growth rate in 2012

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Peruvian and foreign economists have predicted that Peru’s economy would post the highest growth rate (5.8%) in Latin America this year, according to the latest report by the Latin Focus Consensus Forecast.

The forecast for Peruvian GDP growth remains unchanged compared to Latin Focus Consensus Forecast’s estimate in July. However, the consulting agency cut Latin America’s growth projection by one percentage point to 3.1 percent for 2012.

Peru’s GDP is forecast to surpass the average annual growth rates of the two economic blocs in the region: the Southern Common Market (Mercosur) with 2.4 percent and the Andean Community (CAN) with 4.8 percent.

Economists also estimate Peru’s economy will grow 6.1 percent in 2013, the second highest growth rate after Paraguay, which is seen expanding by 6.5 percent next year, after contracting 1.4 percent in 2012.

Peruvian and foreign economists have predicted that Peru’s economy would post the highest growth rate (5.8%) in Latin America this year.

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