The economic recovery in Q3 has extended into Q4. During Q3, private investment showed clear signs of recovery, with a 4% growth compared to the same quarter in 2023, the highest rate in three years. This increase was associated with a relatively optimistic level of business confidence, lower corporate financing costs, and the progress of large infrastructure projects such as the Chancay port, Line 2 of the Lima Metro, and the expansion of the Lima Airport and the Muelle Norte in Callao. In fact, the machinery acquired for the Chancay port accounted for around a fifth of the growth in capital goods imports in the quarter.
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Analyst
The economy maintained a solid growth pace in Q1 2025, around 3.8%, slightly above expectations. Primary sectors, such as agro-exports and fishing, continued to rebound, although they were still affected by weather conditions in Q1 2024.
This month, the political agenda has once again focused on citizen insecurity. The death of a singer from a well-known musical group, allegedly at the hands of extortionists, sparked renewed criticism of the Minister of the Interior, who was censured by Congress, which in turn triggered new protests.
Despite growing criticism, President Dina Boluarte remains reluctant to remove him from office, as Santivañez plays a key role in her efforts to obstruct investigations against her and her inner circle, including her brother Nicanor Boluarte.
