2023-07-13 01:00:18
Fernando Haddad managed to reverse the highly negative perception that the financial sector had about the president of Brazil. How did he
The performance of the Minister of Finance, Fernando Haddad, at the helm of the portfolio is helping improve the image of the Lula da Silva government and that of the president of Brazil himself from the perspective of the markets.
An investigation carried out by the survey company Genial/Quaest Research and reproduced by the prestigious newspaper Newspapernotes that the negative assessment of the financial market has been significantly reduced in relation to the government of the Workers’ Party.
According to the survey, which inquired among 94 business managers, economists, analysts and decision makers from the largest investment houses in Rio de Janeiro and São Paulo, the negative image of the government among the segment reached, this month, its lowest level: 44%. The data is even more relevant when compared: in March of this year, this rate was 90% and in May it was 86%.
If in March 98% of those surveyed affirmed that the country’s economic policy was going in the wrong direction, this time this perception was indicated by 53% of those surveyed, the newspaper noted.
Basil’s Finance Minister, Fernando Haddad. Photo: AFP
The minister’s job
“This improvement in government was driven by the work of the finance minister. Haddad, who had a 10% positive assessment of his work in March, reached 65% in July, ”Quaest director Felipe Nunes said in a social media post.
According to the survey, 53% of those consulted say they believe that the country’s economy will improve in the next 12 months, compared to 21% who say they believe it will worsen. In March, this last portion was 78%.
Carried out between July 6 and 10, the Genial/Quaest survey affirms, however, that President Luiz Inácio Lula da Silva (PT) is still significantly rejected by the financial market, with 95% stating they have little or no trust in the president. Regarding former president Jair Bolsonaro (PL), that rejection is 82%.
Data that is combined in this effect is, on the one hand, the drop in the cost of living to 3.1%, below the goals of the Central Bank due to the tax management that Minister Haddad has been promoting. The rigor in this task has created internal officials within the party who question him for his pragmatism and supposed liberal line.
A market in Rio de Janeiro. Prices began to drop in Brazil. Photo: REUTERS
The other effect of criticism is fed by the president’s persistent criticism of the head of the Central Bank, Roberto Campos Neto, who keeps interest rates in a very high range of 13.75%.
The issuing entity is independent and is protected by law. Haddad has preferred rather than fight with the Central, to generate the adjustment conditions that force a drop in rates that would take place next August.
This Tuesday, when the inflation rate for June was announced, Lula lashed out at Campos Neto again: “Inflation is falling and soon, soon, the interest rate will begin to fall because the president of the Central Bank is stubborn, but It no longer has any justification,” said the president in his weekly program “Conversation with the President.”
The progressive leader spoke in those terms a few minutes before the government statistics office released inflation for June, which presented a fall of 0.08%, the first negative result of the year.
Source: ANSA
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