BUENOS AIRES (Reuters) – Nearly 64% of Argentines fear the country’s ailing economy will get even worse in the coming months, according to a survey published on Friday, against a backdrop of surging inflation and the weakening purchasing power of the peso currency.
The Sept. 2-13 poll by Buenos Aires-based consultancy Management & Fit marks the highest level of economic pessimism in five years.
Those who held a gloomier view about the future of the economy ticked up from about 59% in the pollster’s July’s survey.
The growing pessimism also extends to views of center-left President Alberto Fernandez, whose disapproval rating stood at 73%.
Asked who they will vote for in next year’s presidential election, 60% of those surveyed said they will pick someone from the opposition, and only 29% said they plan to stick with a candidate from Fernandez’s ruling Peronist-led coalition.
Latin America’s third-largest economy is in the midst of a prolonged economic and financial crisis, with an increasing poverty rate fueled by spiraling consumer prices that are expected to end the year up 95%, according to official estimates.
The economy is nevertheless seen growing 4% this year, but down from 10% growth in 2021. Economic growth is expected to slow to 2% next year, according to the 2023 budget draft.
The Management & Fit survey showed that inflation, higher taxes and corruption are the country’s main problems.
The survey was conducted by telephone nationwide among 2,200 participants aged 16 to 75 and has a margin of error of about 2%.
(Reporting by Eliana Raszewski; Editing by Andrea Ricci)