FX.co ★ Peru’s Fiscal Gap Widens in Q4 2025 as Deficit Deepens to 4.5% of GDP

Peru’s fiscal balance deteriorated in the fourth quarter of 2025, with the deficit widening to 4.50% of GDP from 4.10% in the previous quarter. The shift marks a further weakening of the country’s public finances after the third quarter of 2025, when the fiscal gap had already stood at a sizable 4.10% of GDP.

The data, updated as of 20 February 2026, indicate that Peru ended 2025 on a softer fiscal footing, as the negative balance increased by 0.40 percentage points of GDP between the third and fourth quarters. While the figures do not detail the underlying drivers, the trend underlines mounting pressure on the budget and will likely sharpen investor focus on the government’s fiscal stance and consolidation prospects going into 2026.