Consistent with previous EPM editions, this study provides growth and inflation historical analysis and projections for 2025 and 2026, alongside analyses of capital inflows, employment trends, financial conditions, fiscal policy, and consumer and business sentiment. Likewise, building on past macroeconomic assessments, this study highlights risks linked to inflation, exchange rate volatility, fiscal sustainability, and external shocks – all of which have critical implications for the economy’s long-term economic trajectory. As such, we continue to adapt the classification of macroeconomic variables from Debuque-Gonzales and Corpus (2022) namely domestic demand block; trade block, employment block, monetary block, financial block, and price block.