Our GDP forecast for Peru is unchanged for 2025–2026, with the economy expected to grow by 2.8% in 2025, before slowing to 2.4% in 2026. External conditions are less favorable and uncertainty heightened ahead of Presidential elections scheduled for April next year. We anticipate a decline in investment in 2026, in line with the historical pattern of rising political uncertainty and social unrest as elections approach. In addition, any escalation in global trade or geopolitical tensions would pose downside risks to global growth.
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