In a recent independence day speech to Congress, President Dina Boluarte expressed optimism about Peru’s economy, despite facing accusations of corruption and abuse of power. Boluarte took office after the ousting and arrest of predecessor Pedro Castillo in late 2022, following his attempt to dissolve Congress. The economic challenges faced by Peru are significant, with the economy contracting by 0.6% last year due to extreme weather conditions and a decrease in private investment. However, Boluarte remains hopeful, predicting economic growth exceeding the 3.1% forecasted by the central bank.
As part of her efforts to boost the economy, Boluarte’s government has allocated millions of dollars to revive the mining sector, which experienced a 10% decline in investment last year. She also announced plans to invest in 17 infrastructure projects worth $3.2 billion in 2024. Additionally, a new infrastructure ministry is set to be established to further promote investment in the country.
Boluarte’s administration has come under scrutiny for its handling of Grupo Mexico’s Tia Maria copper mine project, which was paused for over a decade due to community protests over environmental concerns. Despite past violence related to the project, Boluarte defended its importance in stimulating mining investment. She dismissed criticisms from what she referred to as “ideological sectors” who oppose mining as a key driver of economic growth.
Amidst her economic and political challenges, Boluarte is also facing legal issues. In May, she was accused of bribery and illicit enrichment, as well as being under investigation for her role in the handling of protests that occurred during the transition of power. Public opinion of the president has plummeted, with approval ratings hitting an all-time low of 5%. The right-wing dominated Congress, which supports Boluarte, is also experiencing low approval rates at just 6%.
Despite the mounting pressure and challenges, Boluarte remains steadfast in her commitment to democracy. She has pledged to call for general elections next April as mandated by the constitution. Boluarte emphasized the government’s responsibility to ensure order, peace, and freedom during this critical period. In the midst of political turmoil and social unrest, Boluarte faces the daunting task of navigating Peru’s complex political landscape.
President Dina Boluarte’s leadership in Peru is fraught with challenges ranging from economic hardships to legal controversies and public discontent. As she steers the country through uncertain times, her ability to address these issues and regain public trust will be critical to the future stability and prosperity of Peru.
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