The World Bank projected Peru as the quickest growing economy in South America in a recent study. The study, released on April 18th, predicted that Peru´s GDP will experience a 3.7% growth in the year 2017.
While this number is strong, Peru was originally predicted to a growth of 4.3% and 4.2% over the next two years. However, this number was lowered due to the unexpected floods that recently devastated the country´s northern coast.
Compared to its other South American counterparts, Peru´s economy is still looking strong. Other countries were only registering growth with numbers like 3%, in the case of Argentina and even as low as -3.1%, in the case of Venezuela.
The only other country with a similarly high growth in GDP predicted was Bolivia.
Peru´s economy has been strengthened as a result of its growing popularity as a top tourist destination and its increased international relationships.