stated on Monday that Peru's public debt has followed a downward trend in recent years.
In that regard, the Head of State emphasized that Peru is now seen as one of the strongest economies in Latin America, according to the country's credit rating.
"Public debt stood at 33.3% of GDP in December 2022. By the end of 2024, it had dropped to 32.1%, and by the end of the first quarter of 2025, it fell further to 31.1%," Mrs. Boluarte said in her Independence Day address from Congress headquarters in Lima
Likewise, the top official reported that the second quarter of this year posted a fiscal surplus of 0.7% of GDP.
"This excellent result is due to the strong growth in tax revenues, which rose by 14.6% —the highest increase since the third quarter of 2022," she noted.
Fiscal deficit
The President pointed out that the accumulated annual fiscal deficit as of June 2025 has continued its downward path, standing at 2.6% of GDP.
"Let us recall that in 2024, the fiscal deficit was 3.5% of GDP. Our projection for this year places it between 2.6% and 2.8%, which demonstrates our firm political will to act responsibly in managing the country's economy," Mrs. Boluarte stated.
Peace, unity, and stability are crucial factors behind these results, she added, proving that "everything is possible under that protective mantle."
The top official emphasized that these figures are well below the average for emerging economies worldwide (5.5%) and for Latin America (4.7%).
Investor confidence
In this regard, the President said this performance reflects the confidence of private investors in Peru's economic policy.
"During the first half of 2025, the private sector issued long-term debt securities worth S/17.42 billion (US$4.921 billion)," she stated.
This private indebtedness, she explained, will help finance new business ventures and strengthen Peru's position as a frequent and reliable issuer in international financial markets.
"All of this is part of a stable and growing business climate that not only encourages local entrepreneurs to invest, but also attracts global investors, even in a pre-electoral year," she remarked.
The President stressed that this progress has been made possible by the government's commitment to constitutional order, political stability, and democratic governance.
"These fiscal strengths —reflected in low levels of public debt and a reduced fiscal deficit— contribute to Peru having one of the lowest and most stable country risk levels in the region. They also reflect the financial market's confidence in the country's macroeconomic and fiscal soundness," Mrs. Boluarte said.
As of the end of June, she concluded, Peru's credit rating remains stable and investment-grade according to the world's major rating agencies—another reason why the South American country is now regarded as one of the best-performing economies in Latin America.