OECD projects 2.9% growth for Peru, cuts Mexico 2026 forecast to 0.8%

The OECD’s latest economic outlook projects Peru’s GDP to expand by 2.9% in both 2026 and 2027, driven by private consumption, investment, metal price trends and construction activity. The report places Peru second in Latin America for 2026 growth, behind Costa Rica, and third for 2027 behind Argentina and Costa Rica, while warning of lingering inflation pressures from fuel, gas and food prices.

For Mexico, the OECD revised its 2026 growth estimate down to 0.8% from 1.3%, but raised the 2027 projection slightly to 1.8% from 1.7%. The slowdown is attributed to policy uncertainty, trade‑tariff effects, and constrained private investment, following a quarterly GDP contraction of 0.6% at the start of 2026. Growth is expected to be led by internal demand and low unemployment, with inflation projected to fall from 3.9% in 2026 to 3.2% in 2027. The organization advises data‑dependent monetary policy and stronger public finances.