President Lula is under low popularity
The third Lula's act became a challenge for the government
One month ago, the Brazilian president to leave intensive care after brain surgery, underwent follow-up operation to reduce risk of bleeding. He is well now, but the comments in general are: “he is old".
Lula’s speeches make me think this too.
Despite the Brazilian companies earnings going well, Brazil's Central Bank hikes the basic interest rate to 12.25% a year and the inflation rate is not under control. The government is not prepared to cut the bills, so… the path to fix some important problems to raise the taxes. The worst decision.
Result: Brazilians are less confident with the President and the government.
All research institutes are publishing that Lula’s popularity is going down. To be more specific, If the elections here were held today, Lula would not be elected (my opinion).
To complement this popularity crisis, the agency that measure economy, demography and the most important trends in Brazil, the IBGE, is going through another institutional crisis, because its president Marcio Pochmann (appointed by Lula) is being pressured by the institution's directors to provide more transparency in the published numbers and also follow the rules for analyzing data without government interference.
Lula still lives with the former President Bolsonaro popularity shadow and will not attend the inauguration ceremony of the elected President of the United States, Donald Trump (Republican Party), on January 20.
Brazil is the 11th largest economy in the world, with an estimated GDP of $1.92 trillion in 2024.