In 2026, the Peruvian economy will grow by 3.2%, a pace similar to that of 2025, despite electoral risks
In the third quarter of 2025, the economy grew by 2.5%, a slower pace than that observed in the first months of the year.
2024 was a year of inflection in the economic cycle, where there was moderate growth after the recession of 2023. The growth observed last year was mainly driven by: i) a strong rebound in primary activities, such as fishing; ii) a notable increase in public spending, with double-digit increases in both State remuneration and public investment; and iii) greater dynamism in private consumption in 2H, largely explained by the temporary effect of the withdrawal of funds from the AFPs.
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Analyst
In the third quarter of 2025, the economy grew by 2.5%, a slower pace than that observed in the first months of the year.
This month, President Dina Boluarte’s cabinet demonstrated resilience in the face of criticism over leaked audio recordings implicating Ministers Eduardo Arana (PCM) and Juan José Santiváñez (Interior).
The Government’s main allies, Fuerza Popular and APP, leveraged the crisis triggered by the murder of 13 mine workers in Pataz to strengthen their influence over ministerial appointments.
