Economy & Business - August-September 2012 (ISSN 1741-7430)

Peru’s current economic bonanza has allowed it to grow at an average rate of 6% in recent years, and that trend is expected to continue in the near future. Peru’s finance & economy minister, Luis Miguel Castilla, acknowledges that up to 50% of the country’s stellar growth in recent years has been the result of “favourable economic winds”, including record high international commodity export prices Castilla admits, however, that with a recession in Europe, a weak recovery in the US and slower growth in China it is necessary to diversify the economy and look for new markets.