BCR: Peru to rank among region's top 3 for growth in 2025–2026

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14:33 | Lima, Jun. 20.

Peru will be among the three fastest-growing economies in the region in 2025 and 2026, with rates of 3.1% and 2.9%, respectively, according to the latest update of macroeconomic projections from the Central Reserve Bank (BCR), presented by its Governor Julio Velarde on Friday.

During the presentation of the June 2025 Inflation Report, Velarde stated that Peru will record this notable growth over these years, ranking only behind Argentina and Paraguay.

"Peru would be the third-fastest-growing economy," he noted.

The economist stated that Peru's growth forecast for this year was adjusted from 3.2% to 3.1%, mainly due to lower metallic mining production, while the 2026 projection remains unchanged at 2.9%.

Similarly, the growth projection for exports was reduced from 3.9% to 3.8% for 2025 and increased from 3.3% to 3.5% for 2026.

Private investment improves

Furthermore, Velarde indicated that the growth projection for private investment has been raised from 4.1% to 5% for this year, as well as the outlook for domestic demand and private consumption expansion.

In fact, the BCR raised its growth projection for domestic demand from 3.5% to 4.4% for this year, while keeping it at 3% for 2026.

It also raised the forecast for private consumption from 3.1% to 3.3% for 2025, and kept it at 2.9% for the following year.

“Consumption remains strong,” the BCR governor noted.

In the breakdown, Velarde stated that the advance in private investment is driven by the dynamism of mining investment, which is expected to grow by 7.3% this year and rise by 3.7% in 2026, while non-mining investment would grow by 5.5% in 2025 and 3.7% next year.

Similarly, the BCR raised the import growth projection from 5.2% to 8.6% for this year and reduced it from 3.8% to 3.7% for 2026.

Moreover, Velarde stated that the outlook for public investment remains at 6.5% for 2025 and 1% for 2026.

(END) JJN/JMP/MVB

Published: 6/20/2025

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BCR: Peru to rank among region's top 3 for growth in 2025–2026

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