LIMA, March 19 (NNN-ANDINA) – Peru will post the second highest growth rate in the region this year (4.9 percent) according to forecasts of national and international experts and investment bankers supplied by Latin American Consensus Forecast.

This growth projection marks an improvement over the 4.8 percent rise analysts estimated in Feb.

Brazil’s gross domestic product (GDP) is expected to grow 5.5 percent this year and the country is in a good position to lead economic recovery in Latin America.

According to the international consultants the scenario will be similar next year since Peru is expected to grow at about 4.8 percent, according to the Central Reserve Bank (BCR).

As for inflation, analysts polled by Consensus estimate it would average 2.2 percent within the target range of the BCR.

Meanwhile according to market indicators, the country is experiencing its second franchise boom but with greater participation of Peruvian brands that fit the model of business expansion, reported Peru’s Export and Tourism Promotion Board (PromPerú).

According to Promperu?s export director, Juan Carlos Mathews, the country experienced its first wave of explosive expansion in 1993-1996, 95 percent of franchises were foreign-owned, especially by US firms.

“Data revealed that during this period the number of franchises doubled in 18 months but then Peru and the whole world experienced difficult economic times as in the Asian crisis and then all the progress stopped,” he said.

He explained the domestic franchising market began to make a comeback in 2003 with 170 franchises operating in the country of which 30 percent were Peruvian. — NNN-ANDINA

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