Peru Takes Possession as Economic Leader in the Region

Specialists from the World Bank (WB) announced that Peru has been positioned among the economic leaders of Latin America in the last ten years due to very rapid economic growth.

Felipe Jaramillo, World Bank director for Central America announced: “This puts Peru in a climate of considerable optimism,” after an official document of the WB explains that between 2000 and 2010 Peru took second place ranking in what regards to economic growth per capita, followed by Panama.

In fact, apart from the financial crisis of 2008-2009, the country surpassed the economies of countries like Brazil and Chile that grew at an average annual rate of 5% of GDP, a milestone not seen since the 1960’s.

Jaramillo also explained that several factors that caused this growth occurred due to increased productivity, increased employment, rising foreign trade and a rise in exports in different fields.

“The legal stability also gave it more confidence to domestic and international investors to bet in Peru,” he said.

These also generated to achieve low inflation, higher international reserves, external debt relief and a sustained reduction in poverty levels and significant improvements in social indicators in Peru.

Source: Elcomercio.pe