Growth Boosts Rating

March 2008 | Ratings Update

Peru's economy expanded at a rate of 9.0% in 2007, the highest level in 13 years, helped by a booming construction sector. According to the National Statistics Institute the construction sector posted the highest growth figure in 2007, reaching 16.5%, followed closely by manufacturing, which expanded by 10.6%, and commerce, growing by 10.5% during the same period. In December alone, the Peruvian economy grew at an astonishing rate of 9.9% y-o-y, with the growth rate showing a clear upward trend since as far back as early 2002, in large part propelled by the expanding construction, manufacturing and commercial sectors.

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