OECD ECONOMIC SURVEY OF PERU
Reforming to Unlock Peru’s Potential Lima
29 September 2025 oe.cd/peru
Economic growth has been strong
Note: Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: OECD Economic Outlook database.
Inflation target band
Growth is projected to remain resilient, though at moderately slower pace
Source: OECD Economic Outlook database.
Sustaining strong public finances
Complying with the fiscal rule is essential to safeguard the strong macroeconomic framework
Note: The fiscal balance refers to the non-financial public sector. The shaded area represents forecasts. The fiscal rule was suspended in 2020 and 2021. Target for 2024 was revised during the year.
Source: Ministry of Economy and Finance; OECD Economic Outlook database.
Increasing efficiency of public investment would raise infrastructure quality
Note: Data refer to an index of quality and efficiency in transportation infrastructure (road, railroad, air, sea) and utility infrastructure (electricity, water) in 2019. Latin America is a simple average of Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: World Economic Forum, Global competitiveness index.
Social protection could be better targeted towards lowincome households
Share of workers benefiting from non-contributory social protection
Note: Non-contributory social protection includes programmes providing universal health coverage and cash transfers (including non-contributory pensions). Income groups are defined by daily per capita income in USD: Low-income (≤6.85), vulnerable (6.85-15), middle class (15-70), and high-income (≥70). Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: Estimates based on OECD (2021), Key Indicators of Informality based on Individuals and their Household (KIIbIH) database, https://www.oecd.org/dev/Key-Indicators-Informality-Individuals-Household-KIIbIH.htm.
Supporting access to finance for smaller firms
Better access to finance would help small and mediumsized enterprises invest, grow and formalise
Note: Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: World Bank, World Development Indicators.
Interest rate spreads between loans to small and medium-sized enterprises and large firms
Nominal rates, % points, 2022
Note: Latin America is a simple average of Brazil, Chile, Colombia, and Mexico. Small and medium-sized enterprises include micro, small and medium-sized enterprises.
Source: Financing SMEs and Entrepreneurs 2024.
Further deepening capital markets can broaden financing options in Peru
Note: LAC is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico. Market capitalisation measures the total value of listed companies' equity relative to the size of the economy.
Source: IMF World Economic Outlook database: April 2024.
Unlocking human capital and formal jobs
Reducing informality through a comprehensive reform agenda is key to raising
living standards
Note: Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico. Informal workers include: self-employed in informal enterprises, contributing family workers, members of informal cooperatives, and employees without formal job contracts or social protection, including domestic workers.
Source: International Labour Organization.
Expanding early childhood education and care would support equality of opportunity and employment
Note: PISA scores show how 15-year-old students perform in reading, mathematics, and science. Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: OECD, Programme for International Student Assessment (PISA) database.
Preparing for climate change
High exposure to climate disasters requires faster adaptation and better risk management
Cropland exposed to at least one week of extreme precipitation %, 2015-2023 average
Note: Latin America is a simple average of Argentina, Brazil, Chile, Colombia, Costa Rica, and Mexico.
Source: OECD exposure to extreme precipitation and to river flooding indicators.
Reversing deforestation is key to meet climate goals
Note: Bars do not add up to the total because smaller sectors, such as industrial processes and waste, are not shown. Land use and forestry refers to the LULUCF sector (Land Use, Land-Use Change, and Forestry), which includes emissions and removals from activities such as deforestation, reforestation, and changes in land use.
Source: OECD Environment Database; IDB (2021), Costos y Beneficios de la carbono-neutralidad en Perú: Un análisis robusto.
A successful
energy transition requires expanding renewables while phasing out fossil fuels
Source: International Energy Agency.
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