reported that the country’s economic activity grew 3.9% in September 2025 compared to the same month last year, reaching its highest rate since June and accumulating 21 consecutive months of expansion.
The sector reported that Gross Domestic Product (GDP) recorded a 3.3% increase between January and September, consolidating the economic recovery process.
This performance occurred in a context of solid macroeconomic fundamentals, including a country risk of 124 basis points in October, international reserves worth US$90 billion, inflation at 1.4%, and a fiscal deficit converging toward the 2.2% target for year-end.
According to INEI figures, September’s growth was driven by the performance of the primary sectors, which advanced 5.3%, with the agriculture-livestock sector standing out (+12.1%), its highest rate since November 2024.
Increases were also recorded in fishing (+6.4%) and primary manufacturing (+6.7%), linked to higher extractive activity for direct human consumption.
Likewise, the non-primary sectors grew 3.4%, their highest rate since March 2025, in an environment of recovering domestic demand.
Construction grew 10.2%, commerce advanced 4.0%, and services rose 2.9%, driven by improvements in the labor market, higher incomes, and a stable price environment.
The high-ranking official added that the fiscal deficit reached 2.3% of GDP in October, approaching the annual target, as she reaffirmed the government’s commitment to responsible fiscal management.
The MEF indicated that it will continue promoting policies aimed at strengthening business confidence and fiscal sustainability, including the new PPP and Works for Taxes framework, the debureaucratization shock, the 2025–2030 National Infrastructure Plan, and Peru’s OECD joining process.
