A poll showed that financial market participants in Brazil are optimistic about the country’s economic prospects under President Luiz Inacio Lula da Silva, according to “reuters.”
The Genial/Quaest poll showed that 53% of market participants now believe that the Brazilian economy will improve in the next 12 months under President Luiz Inácio Lula da Silva’s Economic Administration.
The shift in opinion comes as the administration of Brazilian President Luiz Inacio Lula da Silva has secured support in Congress for bills seen as central to its plans to boost growth.
This includes proposed tax reform, changes to the rules for tax experiments, and a new fiscal framework aimed at controlling the explosive growth of public debt.
While the approval ratings for Brazil’s president, Luiz Inacio Lula da Silva, are still faltering, the finance minister’s approval ratings jumped in the market to 65% from 26%.
The poll showed that the markets were happy with the government’s decision to keep the inflation target for 2026 at 3% while adjusting the time frame for assessing its achievement.
The growing optimism about Lula’s economic management is bad news for former President Jair Bolsonaro, who enjoyed the support of some of Brazil’s financial elite.
