analysts estimate the Peruvian economy will increase 7.9% in 2021
, that is, a growth rate higher than Latin America's (4.0%) and the world's (5.2%) average.
In addition, Peru's growth rate will be higher than the United States (4.6%), the Euro Area (5.7%), China (7.6%), and Japan (2.6%) rates next year.
Last June, panelists participating in the LatinFocus Consensus Forecast projected that Peru's GDP would expand 6.8% in 2021.
Peru will record the highest GDP growth in Latin America next year (7.9%), followed by Argentina and Chile, with 5.2% and 4.8% respectively, the latest FocusEconomics' LatinFocus Consensus Forecast report has highlighted.
Paraguay would come next (4.7%), followed by Colombia (4.1%), Uruguay (3.8%), Bolivia (3.8%), Brazil (3.7%), Mexico (3.3%) and Ecuador (3%).
Panelists surveyed for this month's LatinFocus report expect Peruvian GDP to contract
10.5% in 2020, which is down 2.2 percentage points from last month's projection.
The other economies seeing a contraction this year are Mexico (-8.5%), Ecuador (-8.1%), Brazil (-6.7%), Chile (-6.0%), Colombia (-5.2%), Bolivia (-4.5%), Uruguay (-3.8%) and Paraguay (-2.0%).