Peru boosts size of economic stimulus package

LIMA: Peru has boosted the size of its economic stimulus package to 1 percent of gross domestic product from 0.5 percent as worries grow about a weak global economy, Prime Minister Salomon Lerner said on Wednesday.

The stimulus package, which would be rolled out depending in part on the performance of the global economy, would steer government purchases to small and medium-sized companies, provide loan guarantees to exporters, and repair and build infrastructure.

Peru's economy is forecast to slow next year to about 5.7 percent growth from about 6.5 percent this year. Last year, it grew nearly 9 percent, one of the world's fastest paces.

Its GDP is valued at about $140 billion.