In 2026, the Peruvian economy will grow by 3.2%, a pace similar to that of 2025, despite electoral risks
In the third quarter of 2025, the economy grew by 2.5%, a slower pace than that observed in the first months of the year.
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 third quarter of 2025, the economy grew by 2.5%, a slower pace than that observed in the first months of the year.
This month, President Dina Boluarte’s cabinet demonstrated resilience in the face of criticism over leaked audio recordings implicating Ministers Eduardo Arana (PCM) and Juan José Santiváñez (Interior).
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.
