announced on Monday that Peru's Gross Domestic Product (GDP) is projected to grow between 3.1% and 3.5% this year, making it one of the fastest-growing economies in Latin America.
"As a result of the political crisis at the beginning of my administration, along with the impact of Cyclone Yaku and El Niño phenomenon, 2023 was a complex and challenging year for our economy," the top official stated.
"That is why we implemented a significant and necessary productive reactivation plan. To that, we added a responsible management of monetary and fiscal policy, and a firm commitment to both public and private investment to help us recover macroeconomic stability," Mrs. Boluarte noted.
"The result of these policies enabled us to get back on track in 2024, when GDP grew by 3.3%. I can now announce that we expect to grow within the range of 3.1% to 3.5% by the end of this year, which would position us among the leading economies in Latin America in terms of growth," she pointed out.
During her Address to the Nation, the President stated that Peru currently has one of the strongest currencies in the region and low, stable inflation.
"In 2024, inflation stood at 2%, lower than countries such as Mexico, Chile, Brazil, and Colombia. And for this year, an even lower inflation rate is projected," she said.
She also highlighted that one of the pillars of Peru's economic policy—net international reserves—has reached record levels.
"When I took office, reserves stood at US$71.800 billion. By the end of the first half of 2025, they have risen to US$87.130 billion. That means reserves have increased by US$15.247 billion during my administration —an all-time high for Peru— driven by investor confidence and the stability of our currency," she added.
Investor Confidence
The Head of State indicated that, as a sign of private investor confidence in Peru's economic policy, the private sector issued long-term debt securities worth approximately S/17.422 billion (about US$4.921 billion) in the first half of 2025.
"This private indebtedness will help finance business development and reinforces our standing as a frequent and reliable issuer in international financial markets," Mrs. Boluarte stated.
"All of this is possible when there is a stable and growing business environment—one in which not only local entrepreneurs invest, but global investors also view us as a trustworthy destination for their capital, even in a pre-election year," she added.
President Boluarte emphasized that this progress has been made possible by upholding the constitutional order, maintaining political stability, and preserving democratic governance throughout her term.
"To counter the economic slowdown, we launched the Con Punche Peru (Peru With Strength) 1 and 2 plans, as well as the Unidos Plan (United Plan), which included measures aimed at reactivating household economies, supporting micro and small enterprises (MSEs), as well as boosting sectoral and regional recovery," Mrs. Boluarte noted.
"Con Punche Perú 1 and 2 involved public spending of S/7.6 billion (US$2.147 billion) in 2023 and S/1.6 billion (US$452 million) in 2024. Additionally, we created the Impulso Myperú program to improve access to financing for MSEs, issuing loans totaling S/14.740 billion (US$4.164 billion), which benefited nearly 245,000 businesses—94% of which were MSEs," she specified.