World Bank raises Peru’s growth outlook to 2.9% for 2025 | Noticias

has raised its growth outlook for the Peruvian economy to 2.9% for 2025 in its latest

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This projection is higher than the previous forecast (2.5%).

This upward revision for Peru contrasts with the downgrade of the global growth forecast from 2.7% to 2.3% for this year, compared to the previous report published in January.

“Global growth is projected to slow to 2.3% in 2025, nearly half a percentage point lower than the rate that had been expected at the start of the year. A global recession is not expected,” the World Bank indicated.

However, it noted that if the forecasts for the next two years materialize, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s.

“Peru is projected to grow at 2.9% in 2025 and 2.5% in 2026, supported by mining investments, although consumption growth is likely to moderate,” the World Bank explained.

The Peruvian economy grew by 2.8% in 2022, slowed to -0.4% in 2023, and expanded by 3.3% in 2024, according to statistics from the global financial institution.

In its analysis of the Peruvian economy, the World Bank highlights that falling oil prices helped improve the external finances of net oil-importing countries such as Chile, Peru, and most of Central America and the Caribbean.

As for the slight moderation in Peru’s growth from 3.3% in 2024 to 2.9% in 2025 and an average of 2.5% in 2026–27, the World Bank attributed this forecast to a slowdown in private consumption growth, increased uncertainty over domestic politics, greater global volatility, and fiscal consolidation amid a broader moderation in public spending.

The World Bank also warned that if Chinese demand slows, particularly for metals, the prices of industrial commodities such as copper could fall further.

“This could dampen growth and fiscal revenues through lower demand for exports, particularly from Chile and Peru,” it indicated.

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