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RedditPeru Finance Minister: Pace Of Economic Expansion Seen Gaining
Robert KozakDow Jones
November 3, 2009
Peru's economy should continue to expand strongly, boosted by inventory rebuilding, ongoing private and public-sector investments and easy monetary policy, Finance Minister Luis Carranza said Tuesday.
The country's gross domestic product expanded by almost 10% last year but that rate of expansion has weakened sharply this year, reflecting the global downturn. Forecasters expect Peru's GDP to expand by 1.0% to 2.0% this year, and by 4.0% to 4.5% next year.
In a speech at a conference organized by the Council of the Americas and the Americas Society, Carranza said that there is a process of strong inventory rebuilding underway in Peru...
..."What we have is that with the solidness of the banking sector and of companies, is that loans haven't been falling, instead they have been growing," he said, adding that the construction sector has posted a notably rapid recovery."
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