Peru’s economy is facing another solid year, providing a strong outlook for business and trade.
BY JOACHIM BAMRUD
Carlos Gonzalez-Taboada, CEO of Scotiabank Peru, is optimistic about the outlook this year. “We believe it will be a promising year for SBP [Grupo Scotiabank Perú] as a result of the benefits offered by the country, which include …investment grade,” he says.
Blanca Quino, Peru Country Manager for Kimberly-Clark, agrees. “Perus economy will grow 5 percent. This makes the decision to invest easier, as [Peru] is one of the few countries in Latin America that could grow at this rate,” she says.
While Latin America’s GDP fell an estimated 1.8 percent last year, Peru’s economy expanded by 0.9 percent. “Peru was the only major Latin American country where the economy expanded in 2009,” the Institute of International Finance (IIF) said in a report yesterday.
“Even in the middle of the world crisis, the economy managed to grow almost 1 percent in 2009 driven by the increase in domestic consumption and public investment which counteracted the decrease in exports and private investment,” says Aldo Defilippi, executive director of the American Chamber of Commerce of Peru. “We expect these macroeconomic conditions to prevail, thus contributing to a stable planning horizon which is vital for doing business.”
This year, Peru’s economy could grow as much as ...
Keywords: BCP Securities, challenges, China, European Union, free trade agreements, Humala, Keiko Fujimori, Luis Castañeda, IIF, outlook, United States
Peru Business Outlook Q&A