MercoPress. South Atlantic News Agency

Peru: highest regional economic growth prospects in 2008/09

Highways are the lifeline of Peru's economy

The Inter-American Development Bank (IDB) reported that Peru's growth expectations rose from 7.8 to 8.3% in 2008, placing Peru as the country with the highest growth rate in the region.

An IDB report also indicates that Peru is to keep leading the economic growth in Latin America with 7% in 2009. In the last Revelation of Expectations in Latin America (Revela) report of July, the IDB pointed out that growth expectations for 2008 also increased in four other countries: Uruguay from 6.03 to 6.8%; Bolivia 4.56 to 4.78% and slightly in Brazil and Paraguay. On the other hand, growth expectations in Argentina decreased from 0.2 to 7.2%; Chile from 4.0 to 3.9% and slightly in Mexico to 2.63%. Growth expectations for 2008 remained stable in Colombia (6.11%), Costa Rica (4.8%), Guatemala (4%) and Honduras (4.8%). In addition growth expectations for 2009 rose in Bolivia by 0.4 to 4.96%; Paraguay from 4.92 to 4.99% and in Uruguay by 0.27 to 4.42%.