Overview

• New BCR projections show domestic demand expanding 5.1% in 2025, with private investment up 6.5%, private consumption up 3.5% and public investment up 6.5%.
• The central bank revised sector views for 2025, lifting agriculture to 3.7% and keeping metallic mining near 0.5% growth, while cutting fishing to 2.8% and hydrocarbons to 3.5%.
• Julio Velarde estimated a fiscal deficit near 2.4% of GDP this year, which exceeds the 2.2% fiscal rule and raises questions over fiscal discipline.
• The MEF signaled a tighter finish, projecting August GDP growth of 2.7%–3.0% and targeting full‑year growth of 3.1%–3.5% with a year‑end deficit goal near the 2.2% limit.
• Attention turned to institutional continuity as Velarde pointed to internal candidates Adrián Armas and Paul Castillo as recommended successors at the BCR.