# Peru Economic Outlook. December 2025 | BBVA Research

> BBVA Research projects Peru's GDP growth at 3.3% in 2025, easing to 3.1% in 2026, as domestic demand accelerated in the third quarter. The fiscal deficit is narrowing and the external accounts are expected to stay in surplus on high terms of trade. The sol is forecast to trade between 3.35 and 3.45 per dollar through 2025 and 2026, with inflation near 1.5% at end-2025.

- Date: 2025-12-04 · published 2025-12-04T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/21812-peru-economic-outlook-december-2025-bbva-research
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md)

## Why it matters

Strong terms of trade and external surpluses support the sol, which is a modest bearish signal for USDPEN. Peru is a minor direct buyer of feed grains, so the effect on feed-ingredient prices is limited.

## Read by commodity

- USDPEN: bearish ▼

## Sources

- bbvaresearch.com: https://www.bbvaresearch.com/en/publicaciones/peru-economic-outlook-december-2025/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.