Peru's Economy to Grow in 2010

11 June 2010

Peru's economy grew 1.3% in the first quarter of the current year compared with the last quarter of 2009, the National Statistics Institute (INEI) reported. The state agency also reported that the economy grew 8.76% in March compared to the same month in 2009. However, Walter Bayly of financial services company Credicorp in Peru has explained that this figure is partly due to fewer working days in March 2009, reports Bloomberg.

Economic growth has been driven by expansion in the construction and manufacturing sectors which rose by 24% and 15% respectively. Although the International Monetary Fund (IMF) said Peru's economy could grow by up to 6.3% this year, Peru’s government forecasts an increase closer to 5.5%.


 

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    The Peru Support Group exists to promote social inclusion, sustainable development and the observance of human rights in Peru. To that end the PSG highlights shortcomings in observance of established norms, whether international or local in nature, in its research, advocacy and publications. In so doing, it underscores the relationships that exist within the political system, how institutions work, and the effectiveness of policies that aim to reduce poverty and inequality within the context of sustainable development.

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    Over the past century Peru has suffered a series of autocratic governments and a civil war in which nearly 70,000 people died. Many of the country's ongoing political and social problems are a legacy of its somewhat turbulent past. 

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