National Debt (% of GDP): Peru

Analysis# Peru National Debt (% of GDP) Peru's national debt stood at 33.6% of GDP in 2026, representing a substantial long-term improvement from its 2003 peak of 49.4%. The country has reduced its debt burden by 25.2 percentage points since 2000, though current levels remain elevated compared to the all-time low of 19.9% reached in 2013. This middle position reflects Peru's economic evolution over the past quarter-century. The most significant turning point occurred during the 2020 pandemic, when debt spiked to 34.3% from 26.5% in 2019. Peru has since modestly decreased its debt ratio through 2025, though projections show a slight uptick to 33.6% for 2026. The recent stabilization around 32–34% suggests Peru's debt trajectory has plateaued after the pandemic shock, indicating fiscal consolidation efforts are managing but not dramatically reducing the debt burden.