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.
Last month, we identified four pieces of good news for the business environment: (i) lower prices of certain imported goods, (ii) lower political risk, (iii) improved business confidence, and (iv) some stabilization in local financial variables.
During June, these positive trends have continued to consolidate. Thus, this month, business confidence has continued to increase (see graph) and the exchange rate reached S/ 3.63 soles per dollar, its lowest level in 14 months.
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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.
