Wednesday, August 13, 2008

Peru -- Set to achieve highest economic growth in the region in 2008/09 reports the IDB

The Inter-American Development Bank (IDB) data and reports show that Peru’s GDP growth expectations rose from 7.8 to 8.3% in 2008, which makes Peru according to IDB calculations the country with the higest growth in the region for 2008.

Second for 2009, the IDB estimates Peru's GDP growth will be around 7% in 2009. If this holds, Peru will also achieve the highest growth in the region in 2009, but as always time will have to tell. With the current volatility in the global economy things may well change, especially considering Peru's over-dependence on certain key exports like Copper and Gold -- both of which have serverely retracted in price as of recent.

IDB growth calculations for other economies in the region for 2008 where as follows:

Uraguay ... 6.8%
Bolivia ... 4.78%
Argentina ... 7.2%
Chile ... 3.9%
Mexico ... 2.63%
Brazil ... (2008 not yet available by IDB)

Lets go Peru! Now lets see if Peruvian leadership will be able to show and actually convince the millions of poor people around its territory this strong growth will eventually bring them a better life.

A life with opportunities and all the other "nice," things the Peruvian's who shop here enjoy-->

Larcomar, Miraflores - Lima, Peru

But which the millions of people who live here, severely lack -->

Pueblo Joven (shanty town) in Lima, Peru