BCR: Economic growth could exceed 7%

The scenario is based on at least average agricultural production this year and faster growth in the construction and industrial segments.

In a basic scenario, with growth levels close to the ones registered last year, economic growth could amount to 6.1 percent this year and 6 percent in 2009, below the levels forecast by the National Prognosis Commission (CNP), of 6.5 percent in 2008 and 6.1 percent in 2009.

The current account deficit is to be 15 percent of gross domestic product (GDP), both in 2008 and 2009. The budget deficit is expected to amount to 2.7 percent of GDP this year and to idle in 2009.

As far as foreign direct investments are concerned, their ratio in GDP is expected to drop to 5.4 percent in 2008 and to 4.6 percent in 2009, compared to 5.6 percent in 2007, BCR analysts say.