Peru possesses solid macroeconomic fundamentals that allow it to address the risks stemming from the El Niño phenomenon through concrete actions and countercyclical policy, Minister of Economy and Finance Elmer Cuba Bustinza stated today.
During a press conference at the Government Palace, the head of the Ministry of Economy and Finance (MEF) highlighted that Peru is one of the few countries in the world capable of implementing a package of measures of this magnitude.
"Not every country can do this—only solvent ones. The vast majority of countries on the planet cannot respond in this way," the minister noted, adding that Peru’s public debt stands at approximately 30% of its Gross Domestic Product (GDP).
Figures in Peru’s favor
"Countries in the region look at us with a certain envy because they would like to do the same, but they cannot. They have debt levels of 60% or 80% (as a percentage of GDP) and are unable to respond in this manner we are going to do it," highlighted the minister of Economy.
Furthermore, he said a fiscal deficit of around 2% (as a percentage of GDP) is well below that of other emerging economies worldwide, which enables the current government to execute large-scale measures without compromising fiscal stability.
A tribute to past Ministers of Economy
"This is no small matter; it is the result—and I pay tribute to all my predecessors in this role over the last 20 years—of their fiscal responsibility. Thanks to them, we have the fiscal space that we can now utilize without any issues," he pointed out.
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Publicado: 22/10/2026