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Peru Announces $13 Billion Stimulus Package To Ride US Economic Crisis Strongly

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I don’t typically write about economic-related news but more on fun and useful information about Peru. But I think it is worth mentioning how Peru is actually riding the US economic crisis.

As I mentioned in my November post, Peru is one of the few countries in Latin America that will be able to ride the crisis better than others with estimates of 9 percent in 2008 and 6.5 percent in 2009. In fact, the first statistics showing a downturn include:

  • Copper and minerals prices are tumbling, thus exports fell in October for the first time in more than six years and down 11.4 percent from the same month last year.
  • In September, Peru registered a trade deficit for the first time in more than five years, followed by a US$ 506 million shortfall in October.

As a result, the Peruvian government today announced a US$ 13 billion stimulus package for housing, highways and other projects in 2009, as Reuters reports today.

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Written by Catherine Castro

December 8, 2008 at 12:41 am

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