IMF sees higher Peru growth, surplus in 2005
LIMA, Oct 15 (Reuters): The International Monetary Fund yesterday raised its 2005 economic growth forecast for Peru to "near 6 per cent" from 4.5 per cent at the start of the year and predicted an ample trade surplus this year.
"We expect that growth will be near 6 per cent in 2005, based on the dynamism of several sectors in the economy and led by an expansion in exports, private investment and consumption," the Washington-based global lender said following a visit by an IMF mission to Lima.
The Peruvian government has a newly-revised official goal of 6 per cent for this year, but has said GDP could increase by up to 7 per cent in 2005.
Peru, a major textiles, mineral and vegetables exporter, has seen record export growth in the past two years. The central bank expects exports to reach $16.1 billion this year. Last year, Peru's foreign sales jumped to $12.5 billion.