highlighted that optimism about Peru's economic growth is increasing among business leaders and international organizations.
He made these remarks during a meeting with the Peruvian-Japanese Business Council (Cepeja), held to continue promoting investments and fostering the country's economic growth.
The head of the
Ministry of Economy and Finance (MEF) stated
that since 2023, Peru's GDP has started to recover, eventually reaching a historic record of just over US$15 billion in 2024.
This, combined with 4% growth in January and promising figures for February, has boosted investor confidence and restored optimism among international economic agencies, which are now raising their growth projections for Peru.
"We are holding weekly discussions with international organizations, business associations, and institutions across various sectors, and optimism is rising," Salardi emphasized.
"Last week, I met with the International Monetary Fund (IMF); they informed me that they had raised their GDP growth projection from 2.6% to 2.9%, while also leaving room for further optimism about future performance," he explained.
Similarly, the government official highlighted the key factors driving this upward trend.
In addition to steady growth in several productive sectors,
he pointed out that inflation (1.5%) is under control by the Central Reserve Bank (BCR).
He added that Peru has one of the lowest benchmark interest rates in Latin America (4.75%).
"The BCR projected a growth of 3.2%, but its governor also hinted that we could reach levels of 4%. There is a very favorable environment with multiple factors supporting this trajectory," the MEF chief noted.
Fiscal Rules
Additionally, the MEF's head stated that efforts are underway to reduce the fiscal deficit.
Salardi explained that the goal is to bring it down to 2.2%, with the National Superintendence of Tax Administration (Sunat) playing a key role in expanding the tax base and generating higher revenues.
"Reducing the fiscal deficit is crucial because it has several positive side effects. It helps preserve one of Peru's main economic strengths: sustainable public finances. It also ensures that the interest rate remains stable and prevents any negative impact on country risk, which ultimately supports investments," he explained.
During the meeting, the government official also highlighted Peru's trade relations with Japan. He pointed out that 4.5% of Peruvian exports were directed to Japan last year.
From 2004 to 2024, the trade balance has grown more than six-fold, with traditional exports standing out, he added.
The minister concluded that there is great commercial potential between both countries, which should be leveraged and developed jointly.
(END) NDP/MDV/JJN/JMP/MVB