PE_abril2025

Economic Outlook

05/05/2025

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.

The economic situation of families continued to recover compared to last year, driven by the sustained improvement in formal private employment and low inflation, which allowed for the gradual recovery of families’ purchasing power.

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Alejandro Aldana

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.

Closing of electoral registration: 43 parties eligible to participate, although the visibility of potential candidates is still limited.

The deadline for registering political organizations in the Registry of Political Organizations (ROP) expired on April 12.