In a televised address, Boluarte stated that the minimum wage will rise to 1,130 soles ($301.90) from the previous 1,025 soles.
This marks the first increase in minimum wage since May 2022, during the tenure of her predecessor, Pedro Castillo, who was removed from office in late 2022 for attempting to dissolve Congress.
"Today, the outlook is optimistic; our economy is projected to grow at a rate of 3.2%, and private investment is significantly recovering," Boluarte remarked.
Peru's economy entered a recession in 2023 due to adverse weather conditions and anti-government protests following Castillo's ousting. Despite this, Boluarte remains one of the least popular leaders globally, with approval ratings often below 5%.
The decision to raise the minimum wage is expected to enhance spending among some of Peru's poorest citizens, although the business community has warned that it may lead to an increase in informal employment.
"We do not govern by looking at the ratings, but based on concrete objectives and benefits for the country," Boluarte added.