Peru: public finances

What is Peru's budget deficit?

Peru's fiscal deficit was 2.2% of GDP in 2025, and the fiscal rule requires it to fall to 1.8% in 2026 and 1.4% in 2027, according to the Ministry of Economy and Finance's explanatory statement to the 2027 budget bill.

The figures are for the non-financial public sector. The IMF puts the general government deficit at 2.4% of GDP in 2025. The 2027 deficit target leads to a projected fall in non-financial spending to 14.1% of GDP, according to the ministry.

Official sources: MEF: Explanatory statement, 2027 budget bill (PDF, Spanish) · IMF DataMapper: Net lending/borrowing, Peru

What is Peru's public debt?

Peru's public debt is projected at 29.3% of GDP in 2026 and 2027, according to the Ministry of Economy and Finance's explanatory statement to the 2027 budget bill. The ministry compares this with 72.6% for Latin America and 77.2% for emerging economies.

The figure is gross debt of the non-financial public sector. The IMF World Economic Outlook gives general government gross debt of 30.1% of GDP in 2025 and 28.6% in 2026. Debt limits and the path for the deficit are set in Peru's fiscal rules.

Official sources: MEF: Explanatory statement, 2027 budget bill (PDF, Spanish) · IMF DataMapper: Gross debt, Peru

How big is Peru's 2027 budget?

Peru's proposed public budget for 2027 is S/ 266,506,316,735, or about S/ 266.5 billion, covering national, regional and local government, according to the 2027 budget bill sent by the Ministry of Economy and Finance.

The bill must be approved by Congress, which can change it. The ministry publishes the bill, the debt bill and the explanatory statement on its budget page. The total is the maximum spending authorised, not what will actually be spent.

Official sources: MEF: 2027 budget bill (PDF, Spanish) · MEF: 2027 budget documents

What is Peru's national debt?

The latest figure from the IMF, for 2025, is 30.1% of GDP. Since 2005 it has ranged from 19.9% of GDP (2013) to 40.4% of GDP (2005). It is 28th highest of 31 in Latin America & Caribbean, where the median is 65.6% of GDP. World rank, highest first: 155th of 185.

Does Peru's government borrow more than it raises?

In 2025, general government net lending or borrowing in Peru was -2.4% of GDP, according to the IMF, which is a deficit. Since 2005 it has ranged from -8.2% of GDP (2020) to 3.3% of GDP (2007). It is 13th highest of 32 in Latin America & Caribbean, where the median is -2.8% of GDP. Of 188 countries with 2025 data, 85th highest.

How much does Peru's government take in?

According to the IMF, general government revenue in Peru was 19.0% of GDP in 2025. Since 2005 it has ranged from 17.5% of GDP (2020) to 22.4% of GDP (2008). Across Latin America & Caribbean the middle value was 24.9% of GDP, and Peru placed 23rd highest of 32. Worldwide: 135th of 187.

What is Peru's government spending?

The latest figure from the IMF, for 2025, is 21.4% of GDP. Since 2005 it has ranged from 18.6% of GDP (2007) to 25.7% of GDP (2020). Latin America & Caribbean median: 26.7% of GDP; Peru is 23rd highest of 32. Worldwide: 138th of 186.

How much tax does Peru collect?

The IMF puts central government tax revenue in Peru at 15.9% of GDP in 2021. Since 2005 it has ranged from 13.2% of GDP (2017) to 16.7% of GDP (2014). It is 5th highest of 16 in Latin America & Caribbean, where the median is 14.0% of GDP. Of 127 countries with 2021 data, 66th highest.

How much does Peru spend on its military?

According to SIPRI, military spending in Peru was 0.8% of GDP in 2025. That is the lowest since at least 2005. Latin America & Caribbean median: 1.0% of GDP; Peru is 14th highest of 22. World rank, highest first: 121st of 149.