Boluarte unveils $10B plan despite low ratings
Peru's President Dina Boluarte has unveiled a series of ambitious mining, infrastructure, and energy projects during her final year in office, despite facing historically low approval ratings due to ongoing security issues and corruption allegations. In her address to Congress, Boluarte announced plans for 134 mining projects valued at approximately $6 billion and construction initiatives expected to reach $4.7 billion by 2026. However, her approval ratings remain dismally low, hovering between 2% and 4%.
To support small-scale miners, Boluarte proposed the creation of a private mining fund aimed at generating $5 billion in annual sales. Nonetheless, her administration has faced backlash for excluding over 50,000 informal miners from formalization efforts, leading to protests that have disrupted key copper transport routes. Although these protests have temporarily paused for dialogue with the government, tensions remain high.
Public discontent has been exacerbated by Boluarte's recent decision to double her salary to nearly $10,000, which sparked significant backlash. During her Congressional address, citizens protested with banners and cardboard coffins, highlighting the deaths that occurred during her administration's earlier protests.
Boluarte, who is currently under investigation for alleged illicit enrichment and connections to a case involving luxury Rolex watches, also faces accusations related to the deaths of over 50 Peruvians during protests in 2022 and 2023. Despite criticism from human rights organizations and victims' families, she has denied all allegations.
As Peru prepares for general elections in April 2026, Boluarte has announced these elections as a means to restore stability and legitimacy in the country. However, she has not confirmed whether she intends to run for re-election, leaving her political future uncertain amid the ongoing challenges her administration faces.
