The dollar closed this Wednesday (8) with an increase of almost 3% against the real, at R$ 5.32. The Ibovespa, the main index of the São Paulo Stock Exchange, had a sharp drop of 3.7%. For commentator Miguel Daoud, the negative results of the financial market are due to political issues.
“The financial market works with expectations. When he sees that the future may not be good, as happened due to the commemorations of the 7th of September this week, which generated negative repercussions in the Legislative and Judiciary, the situation gets complicated”, observes Daoud.
“We are destroying the country,” says Daoud. “Today, I talked to investors, and they don’t want to put money in Brazil anymore. This is the point”, adds the commentator, noting that the Brazilian economy is going through an inflationary process.
“We will have inflation in a country with a technical recession, this is the worst of the worlds”, he says. “We are experiencing a very serious water crisis. The government needs to resolve the issue of precatório to pay the emergency aid”, he adds.
Daoud notes that the financial market is in panic and that the fall of the real reflects the moment of political crisis. “The financial market is based on futures contracts, and then when you have a drop like that, someone is left behind, causing systemic risk. The stock market decline also generates a great concern”, analyzes the commentator.
For Daoud, the truck drivers’ protests aggravate the financial problems with impacts on supply and demand. “We already have difficulties in offering products, and rural producers will be the most penalized, as they depend a lot on transporting both inputs and production”, he declares.
“Given this scenario, it is necessary to bring to the present a more positive perspective, because everything that is happening will lead us nowhere, except to open the doors of hell and see what the sadness of a sinking economy is like. ”, warns Daoud, predicting supply shock problems for the agricultural sector.