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Monday, July 28

Peruvian economy may be losing steam

Taxing times for Peru's economy: "The latest figures show the economy grew by just 1.8% for the year to May. A recent spate of attacks by the left wing guerrilla group, Shining Path, means the government now has to find extra cash to beef up the police and armed forces. Together with the money needed to finance a pay rise for the country's teachers, the Peruvian state has to scrape together more than $200m (120m). And it's decided the only option is to raise taxes. " BBC



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