LIMA, March 22 Peru's central bank has grown
slightly more optimistic about the economic outlook in 2013 than
it was in December, predicting target inflation and slightly
stronger growth as surging domestic demand offsets weak mineral
The overall economy will likely grow 6.3 percent in 2013,
the central bank said on Friday, slightly more than its estimate
of 6.2 percent at the end of last year and in line with what the
economy ministry expects.
The central bank also said annual inflation by the end of
the year should be at its target rate of 2 percent.
The central bank trimmed its view of Peru's 2013 trade
surplus to $2.77 billion from its previous estimate of about $4
"A smaller trade surplus is expected and is explained by
decreased growth in the volume of gold and coffee exports and
decreased external demand for textiles," Central Bank President
Julio Velarde told reporters on Friday.
Growth in Peru has been led for the past few years by solid
domestic demand that has outpaced weaker exports amid wobbly
economic growth abroad.
The central bank said it expects domestic demand to expand
6.8 percent this year, up from its previous 6.3 percent
forecast. This should help offset an expected expansion of just
4 percent in Peru's export-oriented economic sectors.
Peru will also probably post a current account deficit equal
to 4 percent of gross domestic product in 2013, the central bank
said, and a fiscal surplus of 1 percent of GDP.
Last year Peru posted a 6.3 percent economic expansion, one
of the fastest growth rates in the region.