Peru demonstrated effective debt management between 2002 and 2019, reducing its central government debt from 43.4% in 2002 to 23.04% in 2019. Economic growth, fiscal discipline, and resource exports were key factors in maintaining low debt levels during this period.
The COVID-19 pandemic, however, reversed this trend, pushing debt to 30.64% in 2020 and peaking at 32.43% in 2021 due to increased healthcare and social expenditures. By 2022, debt eased slightly to 30.41%, reflecting Peru’s gradual economic recovery.
The COVID-19 pandemic, however, reversed this trend, pushing debt to 30.64% in 2020 and peaking at 32.43% in 2021 due to increased healthcare and social expenditures. By 2022, debt eased slightly to 30.41%, reflecting Peru’s gradual economic recovery.
For a deeper dive into the topic, explore industry’s share in Peru’s GDP, Peru’s unemployment rate, Peru’s government debt as a percent of GDP.
