Peru's economy is projected to grow at an average annual rate of 3.2% between 2026 and 2031, with private investment expected to be the main driver of economic expansion, supported by the development of new mining projects and a robust infrastructure pipeline, according to projections from the
included in the 2021–2026 Pre-Electoral Report.
The government agency noted that domestic demand will continue to strengthen, with greater momentum in private spending linked to the execution of large-scale investment projects.
This scenario unfolds within a context of macroeconomic stability, gradual fiscal consolidation, and more favorable financial conditions, factors that reinforce investor confidence.
In the short term, the start of major mining projects is expected, most notably Zafranal, the Cerro Verde optimization, and Tia Maria.
In the following years, strategic projects such as Coroccohuayco Integration, Ilo Expansion, Los Chancas, Michiquillay, and La Granja will be added, strengthening Peru's productive capacity and formal employment creation, it added.
Broad project pipeline
The MEF underscored that Peru has a broad pipeline of projects under Public–Private Partnerships (PPPs) aimed at modernizing airports, ports, highways, railways, and gas transportation infrastructure.
These investments include irrigation projects, hydrocarbon blocks refurbishment, and the Chancay Port's second phase, with a direct impact on competitiveness and logistics integration.
"Private investment will remain the main engine of economic growth, with positive effects on employment, household incomes, and the strengthening of consumption," Minister Denisse Miralles indicated.
She added that the financial environment shows favorable signs, with a gradual decline in interest rates, greater access to credit, and positive business expectations.
Exports and favorable external environment
The MEF also projected a favorable outlook for exports, driven by greater mining supply, agro-export sector's dynamism, and fishing industry recovery, supported by neutral oceanographic conditions.
This is further reinforced by an international environment marked by stronger global demand, new trade agreements, and favorable international prices.
The government will maintain a gradual consolidation strategy aimed at preserving public finances' sustainability, rebuilding fiscal buffers, and maintaining Peru's investment-grade status.
The downward trajectory of public debt and fiscal deficit control strengthen market confidence and create a favorable environment for long-term investment.
The MEF underscored the importance of continuing to strengthen permanent revenues and public spending efficiency in order to sustain growth and meet social demands, while preserving macroeconomic stability.