Peru's gross domestic product (GDP) will likely expand by 4% this year and rank as the second-fastest growing economy in Latin America, a senior official told reporters on Monday, as inflation is seen holding for another year at around 2%.

Prime Minister Narendra Modi on Monday said the World Bank has expressed confidence that India will continue to be the world's fastest growing economy in the coming years

Peru is expected to rank as the second fastest growing economy in Latin America during the year, economy minister Jose Salardi said on Monday during a press conference. Salardi pointed to fiscal improvement and foreign investment as some of the factors helping to support the growth of the South American country's economy.