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Dina Boluarte celebrates one year as president: mistrust and economic pessimism reign

Dina Boluarte celebrates one year as president: mistrust and economic pessimism reign

A year ago, Dina Boluarte became the first female president of Peru. Since then, she marked a strict distance from Pedro Castillo, but the economic indicators reflect that nothing has changed.

The numbers speak: GDP will end 2023 close to 0% or below – its worst variation in more than two decades without counting the pandemic; Business confidence remains in pessimistic territory and private investment has been in the red for five quarters.

There were no substantial changes in 12 months with Boluarte in charge

José Távara, economist and PUCP teacher, explains that the Boluarte administration lacks critical reforms in sectors such as education, health or citizen security, which are linked in some way to the economic future.

He also assured that it is not enough to raise the public budget for “iron and cement”, but that its correct execution must also be monitored.

Távara regrets that they have not opted for a tax reform either, considering that income continues to plummet and the tax pressure would fall to 15%, diametrically opposed to the region, in which the average is 23%.

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Along these lines, Luis Arias Minaya, former head of Sunat, regrets that the Executive took so long to recognize the recession and believes that the Government of Dina Boluarte It has no economic direction or for “the fight against citizen insecurity and corruption.”

Arias Minaya considers that Con Punch Perú and Unidos are “very timid programs” to get out of the recession, and they have a routine nature that does not generate attraction of private investment.

How much does the political crisis weigh?

Since her first day in the Palace, Dina Boluarte’s regime has not enjoyed popular support. More than 80% of the population disapproves of her mandate and, with the constant political tension – in a context in which former president Alberto Fujimori has just been pardoned – investments may continue to weaken.

Carlos Casas, dean of the UP Faculty of Economics, adds that after the outbreak in the Prosecutor’s Office and Congress there is “a feeling of disorder”, which scares away private capital that wants to do business in the Peruvian market.

He also maintains that citizen insecurity also affects the economy, especially the smallest businesses. “We see extortions or murders, like in Poderosa (mine). A small business is decapitalized by extortion or theft. It prevents the option to grow. It is harmful,” he told La República.

Source: Larepublica

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