LIMA Oct 11 Peru's central bank said on Friday
it is considering lowering the economy's potential growth rate
to around 6.2 percent per year from 6.4 percent on expectations
global growth will be weaker in coming years.
In 2014 the economy will likely expand by 6.2 percent, said
Central Bank Research Director Adrian Armas, and that could be a
more realistic pace for future Peruvian growth.
The potential growth rate is the maximum rate the economy
can expand without causing too much inflation.
"Our forecast for growth next year is 6.2 percent and in
fact we will probably be slightly revising down the potential
growth of gross domestic product to around those levels," Armas
told reporters in a conference call.
Peru, a top producer of copper, gold and silver, has enjoyed
a mining-fueled boom over the past decade, but softer demand
from major buyers like China and weaker mineral prices have
slowed economic growth more than expected this year.
"We're seeing a new international scenario, a scenario in
which we see less growth in emerging economies and that means it
is harder to sustain higher growth levels," said Armas.
The economy expanded 5 percent in the first seven months of
this year compared to the same period a year ago.
The central bank expects the economy to grow 5.5 percent in
2013, having trimmed its forecast last month from an earlier
estimate of 6.1 percent.
Last year Peru posted a 6.3 percent clip, one of the fastest
rates in the region.