During the first half of the year, GDP grew at an average rate of approximately 2.5%, driven mainly by the rebound in activity in the primary sectors.
However, the recovery in non-primary sectors linked to domestic demand remains modest, given that families have not yet perceived significant improvements in their financial situations. At APOYO Consultoría, we anticipate that the recovery in the sectors most closely linked to household consumption, especially in non-essential spending categories, will be more pronounced in the second half of the year.
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Partner and principal economist
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.
