Overview

• OECD estimates that meeting Peru’s fiscal rule requires additional consolidation equal to 0.3% of GDP in 2025 and 0.4% in 2026 despite higher mining revenues.
• Peru’s deficit stood at 2.4% of GDP in August with a government target of 2.3% for September versus a 2.2% rule for 2025, according to the finance minister.
• OECD forecasts GDP growth of 2.8% in 2025 and 2.6% in 2026, while the finance ministry projects 3.1% to 3.5% for 2025 after a 3.4% annualized rate reported for July.
• OECD flags rising fiscal pressures from new tax exemptions, an underfunded pension reform, and potential additional support to Petroperú, and recommends tighter control of current spending, phasing out fuel subsidies, and scrapping exemptions.
• OECD chief Mathias Cormann says Peru leads regional peers in accession reviews with technical work expected to conclude in 2027 and possible entry late 2027 or early 2028, contingent on policy continuity and legislative support, while proposing a new National Integrity and Transparency System to tackle corruption costing 2.4% of GDP.