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FocusEconomics: Peru to grow 3.1% in 2017

COP20 Centro Financiero Lima San Isidro Surco

COP20 Centro Financiero Lima San Isidro Surco

08:00 | Lima, May. 17.

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%).

Likewise, FocusEconomics forecasts stay in line with Peruvian Prime Minister Fernando Zavala's estimates, which projected GDP expansion at 3% this year.

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.

Coming years

FocusEconomics' Consensus Forecast LatinFocus also expects Peruvian economy to grow 4% in 2018.

Thus, it will become the region's growth leader.

(END) MVB


Published: 5/17/2017
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