Economy and Finance Minister Denisse Miralles on Thursday stressed that Peru maintains a solid macroeconomic position, underpinned by average annual inflation of 4.4%—one of the lowest rates in the region—an average country risk of 172 basis points—well below the Latin American average—and net international reserves equivalent to 28% of GDP.
"These indicators represent Peru's main credentials for investors and international markets," she said during her participation in the business breakfast titled "New Framework Applicable to Public-Private Partnerships (PPPs) and Works for Taxes."
However, the Ministry of Economy and Finance's (MEF) head acknowledged that Peru faces significant challenges.
Regulatory framework
The government official underscored the need to continue improving regulatory frameworks, reduce bureaucratic barriers, and streamline administrative processes, so that private investment not only reaches the country but is also executed swiftly and efficiently.
In this regard, she highlighted that the recent reform of the regulatory framework for Public–Private Partnerships (PPPs) aims precisely to address the excessive regulatory complexity that, in the past, slowed project execution.
Investment
Regarding investment, Minister Miralles indicated there has been sustained expansion in Public–Private Partnership (PPP) projects and Projects in Assets over recent years, with particularly positive results in 2024 and 2025.
"This momentum has helped restore the pre-pandemic pace of project awards and responds to the national need for quality infrastructure (delivered) within reasonable timeframes," she remarked.
The minister added that mining investment posted average annual growth of 6% over the five-year period, driven by flagship projects such as Quellaveco and Mina Justa, as well as major strategic investments including the Port of Chancay, the expansion of Jorge Chavez International Airport, and the modernization of the northern and southern piers.
Projections
Regarding economic projections, Miralles said GDP is expected to close 2025 with growth of approximately 3.3%, with an upside bias.
An average growth rate of 3.2% is projected for the 2026–2031 period.
However, the Executive Branch representative emphasized that Peru has the potential to grow at rates above 5%, a necessary condition for the benefits of growth to be reflected tangibly in the population.
Within this framework, she explained that the transitional government works to generate conditions of stability and a clear roadmap for the next administration.
Likewise, the MEF's head highlighted the convening of the Fiscal Agreement for Sustainable Growth, which has brought together experts, economists, and a broad range of stakeholders from across society.
The high-ranking official underscored the importance of national unity and of moving swiftly from criticism to action, noting that each day of inaction represents a missed opportunity compared with competing countries that are advancing their own growth agendas.
Infrastructure gap
Regarding the infrastructure gap, the minister warned that fiscal resources are insufficient to close it solely through public investment. Thus, it is essential to leverage private capital through mechanisms such as Public–Private Partnerships (PPPs) and Works for Taxes, particularly for medium- and long-term projects.
Regarding the new PPP regulations, she said their objective is to simplify procedures, shorten timelines, and strengthen institutional governance.
The Cabinet member highlighted the strengthening of the State-run Private Investment Promotion Agency (ProInversion) as a specialized counterpart throughout the entire project cycle, the inclusion of independent members into its Board of Directors, and the technical prioritization of the project pipeline to shield it from political swings.
She noted that there is currently a pipeline of 52 PPP and Projects in Assets, valued at approximately $13 billion, with awards scheduled for 2026, in addition to eight strategic addenda that are expected to mobilize nearly US$8 billion in additional investment.
Minister Miralles explained that PPPs are an efficient public management tool, as they make it possible to attract private financing, share risks with the Peruvian State, and ensure the sustainability of infrastructure throughout its entire life cycle.
She emphasized that infrastructure is not an end in itself, but rather a means to deliver high-quality public services, which requires contracts focused on service levels and long-term operation and maintenance.
(END) NDP/SDD/MVB
Published: 1/22/2026