Economic Survey of Latin America and the Caribbean 2007-2008

Macroeconomic Policy and Volatility

image of Economic Survey of Latin America and the Caribbean 2007-2008

The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.




Favourable external conditions and a strong increase in domestic demand in 2007 boosted economic growth in Peru, bringing it to 8.9%, up from 7.6% in 2006. With fiscal accounts reflecting this more robust growth, the financial public sector closed the year with a surplus equivalent to 3.1% of GDP. This healthy out-turn, together with the strategy of debt interchange and prepayment adopted by the Peruvian authorities, resulted in a contraction in the external public debt and its restructuring under more favourable conditions.


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