PP_enero2025

Political outlook

31/01/2025

Electoral race starts in a context of democratic crisis and political fragmentation

At the end of January, the Registry of Political Organizations counted 41 parties with current registration and 33 organizations in the registration process. This month, two new parties achieved registration: Ciudadanos por el Perú, linked to President Boluarte’s brother, Nicanor Boluarte, and the Federal Democratic Party, related to former congressman Virgilio Acuña.

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Martín Coronado

Senior analyst

OUR PERSPECTIVE

Changes in the Cabinet have strengthened the alliance with Congress amid a context of growing institutional weakness.

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.

Economic growth likely remained steady at the beginning of Q2 and is becoming increasingly broad-based, despite the uncertain external environment.

So far this year, the economic recovery appears to have consolidated, with growth becoming more broad-based. Domestic demand has shown solid performance.

The serious deterioration in the conduct of economic policy in the United States would impact Peru's economic growth mainly in 2026.

In the first quarter of the year, economic growth remained solid (3.6%). This was the result of a combination of favorable dynamics for GDP.