Mexican President’s Approval Rating Drops to New Low Over Economic Record

(Bloomberg) -- Mexican President Andres Manuel Lopez Obrador's approval rating has dropped to its lowest point since he took office amid concerns over his handling of the economy, according to one poll.

AMLO, as the president is known, saw his approval rating drop to 56% in June, from 60% in May, according to a survey published Wednesday by El Financiero. Only 20% of respondents approved of how he's dealing with economic issues and 65% disagreed, according to the survey.

Lopez Obrador's approval fell to a new low just as he's celebrating two years since his landslide victory in July 2018's election. While he managed to keep his popularity steady throughout the first year and a half of his presidency, despite an economic slowdown, the coronavirus pandemic and his push for austerity isn't sitting too well with voters.

Mexico's economy is seen plunging 10.5% this year, the most since 1932, according to the International Monetary Fund.

AMLO is also scoring low marks on public safety, with 63% disapproving of his performance. Homicides have risen during his term, which began December 2018, despite his campaign pledge to reduce violence.

Read More: Mexico's Drug-Related Killings Rose to 2,429 in June

“These are still fairly good numbers, but what they say is that the economic, security and health crises are being increasingly attributed to him, not his predecessors,” said Carlos Petersen, a political analyst with New York-based Eurasia Group. “Both the downward trend and the president's polarizing effect on the populace are only likely to continue.”

Approval ratings have fallen in almost every category for the president, including fighting corruption, which is what helped him soar to victory following an administration riddled with corruption scandals. Now 50% say he's doing a poor job on graft compared to 34% who approve.

Even his once popular daily morning press conferences are falling out of favor, with 43% having a positive opinion about them, the lowest level in at least a year.

Nevertheless, a majority of respondents is still happy with Lopez Obrador's performance overall, as he remains above the 50% threshold.

“Given the low credibility of the opposition and that a meaningful share of voters are still aligned with AMLO's objectives, he will likely be able to keep a sizable base of support,” Petersen said.

El Financiero surveyed 820 Mexicans by phone June 12-13 and June 26-27. The margin of error was plus or minus 3.4 percentage points.

©2020 Bloomberg L.P.