Peru: All night long

Jan 1, 2013

Peru’s prospects have never looked so good. But much work is needed if the economy is to maintain its recent momentum

By Lucien Chauvin and Taimur Ahmad

Peru ended 2012 on a high note. Christmas retail sales in Lima shot up by 20% from the year before to over $2 billion, feeding an already upbeat mood over prospects for the year ahead.

In a year-end survey by polling firm Ipsos Apoyo, 45% of respondents said their family situation would be 'better/much better’ in 12 months’ time, while 41% said they expected things to be the same and only 7% said they would be worse off.

In a survey of businesspeople by Global Research Marketing, 55% reckoned the economy would perform 'better/much better’ in the coming year.

The government expects GDP to expand by more than 6% in 2012 – the highest among Latin America’s larger economies – while inflation, at 2.6%, remains the lowest in the Andean region. Robust domestic consumption, improved trade revenue and strong foreign direct investment...

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