Issue #523: Market Optimism – Had, But It’s Over | The subject

For some time now, the animated speech of minister Paulo Guedes has little adherence to the reality of most Brazilians. What is new is the deterioration of the expectations of those who, until now, had been endorsing the Bolsonaro government’s options in the economy. Negative Ibovespa in the year, real devaluing far beyond other currencies, future interest rising against the world: it is the “repricing of the Brazil risk”, explains in this episode Mário Torós, former director of Economic Policy at the Central Bank and partner -founder of Ibiúna Investimentos. At the origin of the phenomenon is, according to him, the dismantling of the fiscal building that began to be built during the Temer government. “What we see is constant news of the search for new expenses and expenses”, he says, referring to the primacy of the President’s reelection project over the spending ceiling. And Bolsonaro’s constant coup preaching also has its weight : “This direction is wrong. Prosperous economies are modern democracies.”

What do you need to know:

The podcast O Subject is produced by: Mônica Mariotti, Isabel Seta, Arthur Stabile, Luiz Felipe Silva, Thiago Kaczuroski and Giovanni Reginato. Gabriel de Campos and Ana Flávia Paula also collaborated in this episode. Presentation: Renata Lo Prete. This week’s presentation: Natuza Nery.

— Photo: Communication/Globe

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