According to the latest survey of the Latin Focus Consensus, a main source of global economic analysis, Peru will have the second highest Gross Domestic Product growth rate in 2014 and 2015 in the world after China.
The report predicts that Peru’s GDP will grow 5,4% this year and 5,6% next year. China, the number one in the world, will likely expand 7,5% in 2014 and 7,4% in 2015.
Additionally, Peru’s economy is predicted to exceed the annual growth rates of the two custom unions in Latin America, the Southern Common Market (Mercosur), comprising the countries Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela, which will grow 1,7% this year and 2,2% next year and the Andean Community (CAN), consisting of Bolivia, Colombia, Ecuador and Peru, which will expand with 4,8% in 2014 and 4,9% in 2015.
Economists of the Latin Focus Consensus calculate as well that Peru will post the third lowest inflation rate in the continent in those two years at 2,5% within the central bank’s target of 1-3%.