PE_enero2025

Economic Outlook

03/03/2025

The economy has continued to grow at a rate close to 4%, amid high uncertainty regarding the climate and international economic polic

Several economic indicators suggest that the growth observed in late 2024 extended into early 2025. Thus, economic growth at the beginning of this year is estimated to have been around 4%. Three key factors underpin this recovery: the boost from certain primary sectors, the continued increase in private spending, and the still-present dynamism of public investment.

If you wish to access the full report, write to us at: contactaSAE@apoyoconsultoria.com

Valeria Vargas

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.