Healy Consultants reviews Peru's economic outlook

SINGAPORE - July 29, 2016 - PRLog -- The central bank has forecast 4% economic expansion this year and 4.5% in 2018. The president of Peru's central bank, Julio Velarde, said "Inflation is expected to be within the target range before year end." The central bank held the benchmark interest rate steady at 4.25% for the fifth straight month in May after inflation continued to cool toward its target ceiling. Julio added that in making its decision, the central bank took into consideration that inflation expectations continue to gradually ease, foreign exchange and food product and public service price increases has been reversing, and domestic economic activity is growing at close to its potential.

The activities that support Peru's economy include export of commodities, with the major ones being copper and gold which account for 36% of the country's total exports. Other commodities that Peru exports include gasoline, lead and textiles which in total account for 12% of the country's exports. 16% of Peru's exports are shipped to the USA while other countries maintain good trade relations with Peru include China, Chile and Canada which account for 14%, 5% and 4.8% of Peru's total exports respectively.

The Peruvian business community is upbeat and optimistic about the country's economic outlook, according to a new report released by the country's central bank. Businessmen who were interviewed during compilation of the report were optimistic on 16 out of 19 economic indicators, especially in terms of rising demand, creation of jobs, revenue for companies and productivity. The interviews which were carried out in the second half of June this year covered 357 important Peruvian companies.

The Government of Peru in anticipation of a vulnerable economy driven by Brexit is diversifying economic output by boosting domestic demand and spurring stalled investment projects in order to promote economic growth within the private sector.

About Healy Consultants

For over a decade, the incorporation experts at Healy Consultants Pte Ltd., with their branch in Peru, have been assisting investors worldwide to set up the optimum corporate structure for doing business in the country. The services offered include company registration, banking solutions, accounting and tax and legal services and corporate support services.

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