Peru’s GDP expected to be second strongest in 2010

International economic survey organization Latin American Consensus Forecast said it expects Peru’s economic growth to be the second strongest in the region this year.

Projections by the organization estimated that Peru’s gross domestic product will increase by 4.8 percent. Brazil is the only other Latin American economy expected to post stronger results, with their 2010 GDP forecasted at 5.5 percent, state news agency Andina reported.

Consensus Forecast had originally predicted Chile’s economy to post stronger results than Peru’s this year.

Peru’s economy grew by 0.9 percent in 2009, after posting a 9.8 percent increase in 2008, according to the Central Reserve Bank.

The economic survey organization said in January that Peru’s inflation rate is expected to be 2.1 percent in 2010 and 2.5 percent in 2011, the lowest in Latin America. Chile and Colombia are expected to have the second and third lowest inflation rates, respectively.

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