IMF Sees 6.3 Percent Growth for Peru in 2013

The International Monetary Fund said Tuesday that Peru’s gross domestic product is expected to expand 6.3 percent in 2013, a rate that is similar to those projected by Peru’s government and private-sector economists.

The forecast comes as the IMF lowered its outlook for global economic growth to 3.3 percent from 3.5 percent, Peruvian financial daily Gestion reported.

Peru’s economy has posted relatively sluggish growth in recent months. In February, GDP grew just 4.98 percent. While growth in January was a strong 6.15 percent, in December it was 4.3 percent. Most economists expect growth in March to be weak, due mainly to two less working days as a result of the Easter holiday week.

In 2014, the IMF forecasts that Peru’s GDP will rise 6.1 percent. Peru’s economy expanded 6.3 percent in 2012.

For Latin America and the Caribbean, the IMF expects growth of 3.4 percent this year. In 2013, Paraguay is expected to post the strong rate of growth in South America, at 11 percent, followed by Peru, according to the IMF. Chile is seen growing 4.9 percent, Bolivia 4.8 percent, Ecuador 4.4 percent and Colombia 4.1 percent.

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