For 2026, the issuing entity's economic growth projection remains at 2.9%.

The Central Reserve Bank of Peru (BCRP) today raised its growth projection for the Peruvian economy for this year from 3% to 3.2%.

"We have revised the growth projection for 2025 to 3.2%. The primary sector is somewhat lower because we have a slightly lower estimate for fishing and mining. Fishing, due to the slightly colder sea, means we expect fishing to be somewhat lower in this first season, and mining, basically due to our slightly lower gold production. And in hydrocarbons, due to Block 192, which is delayed," said Julio Velarde, president of the BCRP.

For the issuing body, this improvement would be driven by an increase in public investment - expected to rise by 6.5% this year - and also by higher private consumption, which would grow by 3.1%.

Meanwhile, the primary sectors mentioned by Velarde are unlikely to fare as well. Fishing is expected to grow 2.2% in 2025, less than previously projected, while metal mining is projected to expand by only 2%.

2026 PROJECTIONS

For 2026, the economic growth projection remains stable at 2.9%, albeit with some adjustments in the composition of sectors.

"For next year, we are maintaining the growth we estimated in December. Due to spending, we are seeing greater consumer growth. Previously, we estimated domestic demand growth this year of 3.2%, and we are now at 3.5%, with consumption growing 3.1%," Velarde said.

The Central Bank indicated that the slowdown in growth that year would be a consequence of lower public investment, which would only increase by 1% due to a context of fiscal consolidation.

With these projections, the BCRP outlines an outlook for economic recovery for the Andean country, albeit with challenges in key sectors. The performance of investment and consumption will be crucial for the anticipated growth to materialize.