Peruvian economy will expand 3.1% this year, according to FocusEconomics' Consensus Forecast LatinFocus May report released on Tuesday.
FocusEconomics' analysts have thus lowered their 2017 forecasts for the Inca nation by 0.5% from last month's estimate due to the impact of natural disasters caused by recent Coastal El Niño event.
"The country's short-term outlook has soured in the aftermath of the Coastal El Niño phenomenon," the report noted.
However, analysts maintain the country's growth projection above average value for Latin America (1.5%).
Among LatAm's top
The panel also foresees Peru will be among Latin America's top economies this year, only behind Bolivia (3.8%) and Paraguay (3.7%).
Argentina is expected to take the fourth position at 2.7%, followed by Colombia (2.2%), Uruguay (1.9%), Mexico (1.8%), Chile (1.7%) and Brazil (0.6%), among others.
FocusEconomics' Consensus Forecast LatinFocus also expects Peruvian economy to grow 4% in 2018.
Thus, it will become the region's growth leader.