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Peru's GDP to grow 4% in 2014, 5.7% in 2015

Staff writer ▼ | September 29, 2014
Credit Suisse forecasts that Peru's gross domestic product will grow four percent this year and 5.7 percent in 2015, thanks to the efforts of the government to provide stimulus measures aimed at bolstering the country's demand.
Credit Suisse   Good news for Latam country
According to Juan Lorenzo Maldonado, chief economist for Peru at Credit Suisse, Peru's economic slowdown this year has been worse than expected by most policy makers and analysts.

"The slowdown has been worse than we originally expected, however, the Ollanta Humala administration's efforts to cut red tape and provide stimulus to country's demand is likely to help the economic recovery in coming quarters," Maldonado noted.

On the other hand, Maldonado pointed out that the Andean nation's Central Reserve Bank (BCR) lowered in September the benchmark interest rate by 25 basis points to 3.50 percent in a bid to stimulate sluggish economic growth.

"We expect that the central bank keeps the reference interest rate at this level, but it is able to lower it more if the activity continues to show a slow recovery", he added.