on Monday projected that total exports will surpass the US$100 billion mark in the medium term.
"Last year, we achieved a historic record in exports, reaching US$76 billion. The country could be on track to exceed $100 billion in exports in the medium term," Minister Jose Salardi stated.
The government official noted that trade activity in 2024 resulted in a positive trade balance of $24 billion, which also marked a historic record.
He mentioned that last January all business expectations for both 3 and 12 months remained in the optimistic range for eight consecutive months.
Fiscal Accounts
On another note,
Minister Salardi indicated that the
MEF will emphasize prudent and responsible management of fiscal accounts in 2025.
For this year, the ministry projects a fiscal deficit of 2.2% of GDP and a public debt of 33% of GDP, the lowest among countries in the region.
He pointed out that economic activity in 2024 was characterized by a rapid recovery, with a 3.3% growth rate, consolidating macroeconomic strengths.
In this regard, the economist noted that credit rating agencies highlighted Peru's macroeconomic strengths and its long-standing track record of prudent fiscal management in 2024.
Fitch reaffirmed Peru's credit rating at "BBB" and upgraded its outlook from negative to stable in November 2024. Similarly, Moody's maintained Peru’s credit rating at "Baa1" and improved its outlook from negative to stable in September 2024, he added.
(END) SDD/JMP/MVB