(Bloomberg) -- Colombians are increasingly gloomy about both the economy and the trustworthiness of their political class, a new poll found.
Last month, 31% of those surveyed expected their families’ economic situation to worsen over the next six months, according to LatAm Pulse, a survey conducted by AtlasIntel for Bloomberg News published Dec. 4. That’s up from 29% in October.
Additionally, 42% of respondents expect the labor market to deteriorate, compared to 39% the previous month.
The economy remains weak after its slowest expansion in two decades last year — excluding the pandemic. In the third quarter, gross domestic product grew 2%, lagging forecasts, as mining and manufacturing contracted.
President Gustavo Petro has urged the central bank to speed up interest rate cuts to stimulate growth. However, fears about the fiscal deficit and a weakening peso have deterred policymakers from doing what he wants.
Colombians’ faith in their political class was already low, yet has deteriorated even further in recent weeks. The poll found that 74% think it is likely or very likely that frauds or corruption scandals will emerge in the next six months, an increase from 62% last month.
Colombia’s Finance Minister Ricardo Bonilla is currently defending himself from accusations of corruption. An adviser accused him of having been aware of lawmakers approving loans in exchange for government contracts that personally benefitted them. Bonilla denies this, and President Petro has expressed his support for his ally.
President Petro’s disapproval rating remains unchanged at 51%, while 40% of Colombians approve of his management.
AtlasIntel conducted its survey in Colombia from November 21 to 27, with 2,129 respondents. The survey has a 95% confidence level and a margin of error of +/-2%.
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