said that Peru's Gross Domestic Product (GDP) could grow by 3.5% this year, supported by momentum from the export sector.
The government official made this statement during his presentation "The Peruvian Economy in the New Global Scenario" at the Central Forum of Industry Week 2025, organized by the National Society of Industries (SNI) in Lima on Wednesday.
"We believe it is possible to reach 3.5%; here, fishing, other agro-industrial activities, and especially exports will play a key role," he emphasized.
The Cabinet member noted that Peruvian exports grew by nearly 21% in the first quarter, exceeding US$20 billion, making it feasible to reach US$80 billion by the end of the year, provided conditions remain similar to those of 2024.
Similarly, Minister Perez Reyes indicated that the challenge lies in the impact of global trade in terms of demand and tariffs, particularly on the agricultural products that Peru exports.
He noted that China is Peru's main trading partner, followed by the United States and other countries such as India, Canada, and Japan.
The high-ranking official stated that Peruvian growth is also being driven by domestic demand, with private consumption and investment playing key roles. Similarly, he highlighted the country's low inflation.
"In fact, we are likely to have the lowest inflation rate in the region — and possibly in the entire hemisphere," he added.
At another point in his presentation, the minister stated that Peru's fiscal macroeconomic policy has "as main axis prudence and macroeconomic balance."
"We have a low level of public debt and a low country risk level as well," he emphasized.
Additional measures
Minister Perez Reyes also mentioned that his office is working on adopting additional measures to boost economic growth.
"We are working on a series of targeted economic policy measures aimed at precisely stimulating demand — and particularly supply in certain industries. I expect that in the coming weeks we will begin to see some of these measures, some of which are part of the request we will be issuing for delegation of legislative powers," he explained.
Moreover, Perez Reyes highlighted that in less than a year, labor informality declined from 75% to 70%, as a result of economic growth and exports that generate formal employment.
"So, the idea is to continue growing with the export sector, so that formal employment keeps increasing and the informality rate continues to decline," he pointed out.