Buenos Aires, Argentina – Argentina, Bolivia and Peru have set new economic growth and fiscal targets for 2018, as they set out the first set of ambitious economic policies of their respective governments.
Argentina and Peru set a goal of raising economic growth by 5% to 10% and a budget surplus of 6% to 8%.
Bolivia, on the other hand, is aiming for 7% to 9% growth, a surplus of 3% to 4%.
The countries have been in talks for months over the terms of the 2018 budget, which is expected to be approved by the Central Bank and parliament on Thursday.
The three countries have said they are willing to implement ambitious economic reform to achieve this target.
The four countries together have more than a trillion dollars in economic output and more than half the world’s reserves.
The nations have also signed a series of trade agreements, including the free trade agreement with the European Union.
In recent months, Peru has emerged as one of the biggest beneficiaries of the economic reforms, with its economy rising by 5.8% to 5.9% in 2018, the latest year for which data is available.
Armed with the boost of higher growth, the two other nations are now expected to have a surplus by 2019.
Bolivia’s deficit has now fallen to 4.7% and Peru’s to 1.9%.
Bilbao is also expected to achieve a balanced budget by 2019 and Peru is also set to achieve one by 2020.
The economies are expected to grow by 7.1% in 2019, 7.5% in 2020 and 7.8%, respectively.
The next two years are expected in a region dominated by the US, with Argentina and Peru both set to have surpluses in 2020, with Bolivia’s estimated surplus being 3.4%.
But Bolivia’s government has warned that it will have to pay back the loans in the coming years, as the economy shrinks by almost a third and its debts mount.
The governments’ economic reforms have been welcomed by business, with a number of Argentine and Peruvian firms now saying they are ready to move production from Argentina to Peru.
But the two countries’ governments have said that their economies will not grow as fast as expected, despite the promises.
The presidents have both made it clear that their economic reform measures will not be implemented without the backing of the World Bank and the International Monetary Fund.