Overview
- José Jerí governs with a technocratic but politically weak cabinet after a new vacancy, and its survival hinges on an unpredictable Congress.
- Pedro Pablo Kuczynski argues the current stability rests on unusually high export prices—copper above $5 per pound and gold over $4,000 per ounce—which conceal uncertainty.
- Potential GDP has fallen from above 6% in 2011 to below 3% today, and Peru’s competitiveness has slid to 23rd from ninth a decade ago, with state efficiency flagged as a drag.
- Private investment remains subdued and short‑term capital that exited in 2021 has not returned, while public works stall and major mining reinvestments move slowly.
- Kuczynski highlights internationalized crime and sizable youth emigration near one million in recent years, warning that voter frustration could favor demagogic outcomes in elections about five months away.