(06-08-2025) Peru could raise its economic growth to 6% annually if the next government accelerates deregulation and executes its portfolio of public-private partnerships worth more than US$70 billion, said former Minister of Economy and Finance (MEF) José Salardi in an August 6 interview with Bloomberg Línea.
The former official noted that the country has more than US$60 billion in mining projects in the pipeline, US$20 billion in major irrigation megaprojects, and large infrastructure works that, if unlocked, could change the economic dynamic of the next decade.
“Tía María must move forward because it will be a confidence booster for other mining projects to advance,” said Salardi, also mentioning the La Granja and Michiquillay mining projects in Cajamarca, whose contribution would not only be direct investment but would help unlock more than 60 mining projects totaling US$60 billion.
Citing the latest ECLAC projections, Bloomberg noted that Peru would grow 3.1% this year and 2.9% in 2026. “By unlocking mining, agriculture, and infrastructure, the economy can grow above 6% without difficulty.”
Similarly, in agriculture and irrigation, he cited the Majes Siguas II, Chavimochic, and Chinecas projects, which could add one million new hectares along the coast, generate more than two million jobs, and increase agro-exports from the current US$15 billion to US$50 billion in 10 years.
To ensure their financial viability, he proposes executing them under public-private partnership or government-to-government schemes to avoid overburdening the State budget.
In infrastructure, Salardi recommended delegating to ProInversión—the state agency that promotes public and private investments—the structuring of Lima Metro Line 3, as well as accelerating the expansion of the Chancay and Callao ports, which could raise exports from US$80 billion to more than US$100 billion in the medium term.