Far-right candidate Jair Bolsonaro won the Brazilian presidential elections after a highly polarising campaign. We review economists’ and scholars’ views of what this means for Brazil going forward.
Before the elections, Monica de Bolle wrote that the challenge for the winning candidate was going to be daunting: after suffering through the worst recession to ever hit Brazil, the economy has not quite recovered. Although growth has been restored, it has not been enough to create jobs for the more than 13 million unemployed Brazilian workers, and wages remain stagnant. Most importantly, Brazil has high and uncontrolled fiscal deficits and a debt-to-GDP ratio that is unsustainable over the medium term. Fiscal adjustment will be hard to orchestrate in an economy that is already weak – theRead More »