After a challenging start of the year, characterized by social conflicts and heavy rains, the Peruvian economy has begun to show signs of recovery, albeit at a slow pace. In fact, it is estimated that the GDP grew by 1% during April and May, following a contraction of 0.4% in the first quarter of 2023. This economic recovery has revealed significant variations among sectors, markets and population segments. While investment-related sectors continue to experience double digit declines in the second quarter, markets linked to consumption have rebounded and returned to moderate growth (around 2%), after stagnation in the first quarter. Additionally, the primary sectors have exhibited robust growth (approximately 7%), driven by an increase in mining exports.
Four positive developments have emerged in this context.
Senior Analyst
In the last month, the political panorama has been marked by the beginning of the electoral race. The electoral schedule requires possible candidates who want to participate in the next electoral process to be affiliated with a political organization.
During the second quarter, GDP would have grown at a higher rate than during the first quarter, mainly due to the recovery of the primary sectors.
In the month of May, the Attorney General, Juan Carlos Villena, filed a constitutional complaint against President Dina Boluarte, for the alleged crime of improper passive bribery to the detriment of the State.
