Economic growth in Peru stands head and shoulders above the rest of countries in Latin America, despite the persistent global uncertainty, the World Bank (WB) said on Wednesday.
WB's Vice President for Latin America and the Caribbean, Jorge Familiar, noted the Andean nation’s economy has showed a successful performance over the last ten years.
“Peru’s Gross Domestic Product (GDP) has surged at rates topping 6.5 percent during the past decade, which has allowed the reduction of poverty rates and create opportunities for all citizens," he said in an event held in the south-easter Cusco region.
The senior official of the multilateral institution continued, "Despite the complex international environment, Peru remains as the region’s fastest growing economy".
The WB's economic analyst attended as keynote speaker the Fifth Annual Conference organized by the Reinventing Bretton Woods Committe and the Central Reserve Bank (BCR) of Peru.
Peru is a top producer of copper, gold and silver. Mining makes up nearly 15 percent of the nation's GDP and about 60 percent of export earnings. Last year Peru's economy grew by 5.1 percent, while in 2012 it rose 6.3 percent.