IMF sees Peru’s economy finishing year with 8.3 percent growth

Peru’s economy is forecast to grow 8.3 percent in 2010 and slowdown slightly next year with a growth rate of 6.0 percent, according to the International Monetary Fund.

The IMF improved its outlook for Peru and other Andean nations due to a strong international demand for primary materials, Radioprogramas reported. Peru’s economy grew by 6.3 percent in the first half of 2010.

The IMF also predicted that Peru’s inflation will be 1.7 percent this year, down from 2.9 percent in 2009. It is forecast to increase to 2.5 percent in 2011.

Unemployment rate is expected to be 8 percent in 2010, and decrease to 7.5 percent next year.

The World Bank’s forecast for Peru’s economic growth this year is slightly lower than the IMF’s outlook. The World Bank says Peru’s GDP is expected to increase by 7.5 percent, the same forecast as Brazil and Argentina.

Overall, Latin American economies are expected to perform well this year, state news agency Andina reported. Uruguay and Parguay are both expected to see a 6.1 percent increase in their economies, while Chile, Colombia, the Dominican Republica, Mexico and Panama will grow between 4-5 percent.

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