stated that Peru's country risk remained among the lowest in the region throughout 2025, averaging 145 basis points.
The government official noted that, in comparative terms, Peru ranked in a more favorable position than economies such as Brazil (210 bps), Mexico (277 bps), and Colombia (311 bps).
Peru's country risk was surpassed only by Chile (113 bps), reflecting the strength of our country's macroeconomic fundamentals, Minister Miralles said.
The high-ranking official recently pointed out that Peru has held an investment-grade credit rating for 17 consecutive years, a distinction that is uncommon in the region.
In this regard, the Cabinet member stressed the importance of assessing the responsibility of each authority in issuing regulations and laws that affect project development and fiscal responsibility.
"Appropriate decisions have not been made; besides, the execution of projects and social commitments has been compromised by laws approved without due consideration for fiscal responsibility," she explained.
The minister also highlighted the record level reached in tax revenue last year, which was underpinned in part by tax procedures simplification.
"One key reason we achieved record tax revenue last year is the extensive work carried out on tax simplification. I commend the National Superintendence of Tax Administration (SUNAT) officials, who are committed to ensuring that the tax authority makes it easier for all taxpayers to comply with their obligations," she told A3RNet.
Net Central Government tax revenue in 2025 exceeded S/175 billion (about US$51.959 billion), driven by the recovery of economic activity as well as the strengthening of control, audit, and assistance actions carried out by SUNAT.
According to Minister Miralles, these results demonstrate that greater efficiency in public management is achievable.
"Therefore, we have boosted a deregulation shock led by the Ministry of Economy and Finance (MEF) to reduce barriers—not only those related to attracting large private investments, but also those affecting small businesses, which should feel that paying their taxes is preferable to evading them," she concluded.