MEF: Peruvian economy could grow up to 4% in 2026 despite Coastal El Niño

Peru’s Ministry of Economy and Finance (MEF) expects economic growth of around 3.5% to 4% in 2026 despite Coastal El Niño already weighing on the economy. The minister said the phenomenon is currently affecting gross domestic product (GDP), while fishing and exports will be hurt now but perform better next year. He also addressed informal mining, saying the MEF will work with the small-scale and artisanal mining framework (MAPE Law), providing technical input and support. Over the next five years, the administration targets 6% growth, reduce labor informality to 50%, and cut poverty to 15%. Regarding Peru’s fiscal rule, adjustments would focus on the fiscal deficit and public debt, including reviewing the 1% deficit limit.