Peru
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2003-2004 , pp 187-194
- Publication Date: December 2004
- DOI: https://doi.org/10.18356/4e4ab532-en
- Language: English
Favourable external conditions and a macroeconomic policy aimed at fostering economic growth fuelled GDP growth of 4.1% in 2003. This expansion, which was mainly driven by exports (especially from the mining sector), produced a large merchandise trade surplus and narrowed the balance-of-payments current account deficit to 1.7% of GDP. In a context of low inflation (2.5%) and exchange-rate stability, monetary policy was expansionary, while the fiscal deficit was cut to 1.8% of GDP in an effort to ensure the sustainability of the country’s hefty public debt.
© United Nations
ISBN (PDF):
9789211555202
Book DOI:
https://doi.org/10.18356/72d77e9d-en
Related Subject(s):
Economic and Social Development
Sustainable Development Goals:
Countries:
Peru
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