President, Central Reserve Bank Julio Velarde of Peru

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Increased productivity and lower prices for some foods are moderating inflation, Velarde said in an interview in Washington.

private investment, central bank President Julio Velarde said.

Velarde said the world's economies are going through "a difficult moment.

Velarde said that governments around the world are "doing everything" to attack the problems.

Velarde said the deficit in the current account will be easily financed by continued high levels of foreign direct investment.

Velarde said the move of the current account into a deficit this year -- Peru posted a current account surplus of 1.

Velarde said that the narrowing of the fiscal surplus is expected because of a forecast for falling tax revenues, due in part to weaker mineral prices.

2 Percent in 2007, Velarde Says (Update2) By Alex Emery June 8 (Bloomberg) -- Peru's economy will expand more than previously expected this year, led by growth in manufacturing and retailing, central bank President Julio Velarde said.

8 percent, Velarde said at a Lima news conference.