In a dramatic shift of sentiment, the approval rating of President Dina Boluarte among Peru's top corporate executives has nosedived from 71% to a mere 12%, according to a recent Ipsos survey featured in Semana Economica. This sharp decline mirrors Boluarte's abysmal 6% popularity rating among the general population, highlighting a significant loss of support from a once powerful constituency.
When Boluarte ascended to office in late 2022, she enjoyed a much stronger backing from business leaders compared to the broader populace. However, the country's descent into a recession in 2023 eroded the initial optimism within the business community, leading to the current wave of discontent. Prime Minister Gustavo Adrianzen acknowledged the challenge, attributing the president's unpopularity to communication and image issues, as efforts are underway to reverse the negative trend.
In a bid to restore confidence, Adrianzen pointed to the economy's unexpected rebound in April, with a notable 5.3% growth compared to the previous year, surpassing economist forecasts. Buoyed by this momentum, the government projects a potential 3.5% expansion for the full-year 2024, a revision that aims to reinvigorate business sentiment and revive faith in the administration.
The Ipsos survey, conducted among 143 CEOs from Peru's top 2,500 companies, serves as a stark indicator of the waning support for President Boluarte within the country's corporate echelons. Despite the current challenges, the government remains optimistic about steering the economy back on track and winning back the trust of the business community in the coming months.