Investments in Peru may total $22 billion in 2010 and 2011 as economy recovers

Peru’s deputy minister of economy, Carlos Casas, said investments in Peru may total $22 billion in 2010 and 2011, state news agency Andina reported.

Casas said the investments are due to strong confidence in the economic recovery and stability of Peru. He added that he expects Peru’s economy to grow by 5 to 6 percent annually from 2010 to 2014, up from 0.9 percent posted last year.

“A little while ago we hosted a mission from the International Monetary Fund (IMF), which is the organization that has the highest expectations for growth at 6.3 percent,” Casas was quoted as saying. “International analysts also give 5.5 percent growth for Peru.”

Other reasons to be optimistic about Peru’s future economy is the country’s international reserves, which represent 27.1 percent of the GDP, and its public debt, Casas said.

“Another strength of the Peruvian economy is related to its public debt. More than 10 years ago it was close to 50 percent of the GDP and today it has dropped to 24 percent.”

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