Lula’s Disapproval Soars as Brazilians Worry About the Economy
Brazil’s Lula faces record disapproval amid rising economic concerns among citizens
Brazil, Lula, Economy, Disapproval, Inflation, Public Debt
São Paulo: So, it looks like things aren’t going too well for Lula in Brazil. His disapproval ratings just hit a new high, and folks are really worried about the economy.
According to a recent survey, nearly 50% of people disapprove of his leadership. That’s a jump from last month, and it’s the first time his ratings have dipped like this since he took office again in 2023.
Even though Brazil saw some solid growth and low unemployment during his time, people are feeling the pinch from high borrowing costs and inflation. Investors are getting nervous too, pulling out of local assets because of worries about public debt and budget issues.
More than half of those surveyed think the economy is in bad shape. Only about a third see it as good, and a small percentage think it’s just okay. It’s a tough crowd for Lula.
He tried to ease the pain with a cost-cutting plan, but it didn’t go over well. His proposal to give tax breaks to the poorest didn’t change many minds, and the Brazilian currency took a hit, dropping to an all-time low against the dollar.
Despite Lula’s efforts to boost spending, a lot of people want to see cuts to help stabilize the country’s finances. It’s a tricky balance for him to strike.
On top of all this, Lula had emergency brain surgery in December. Now, he’s shaking things up in his team, bringing in a new communications minister to help with his messaging. His economic team is also working on another round of spending cuts to calm investor fears.
It’s a challenging time for Lula, and he’s got a lot of work ahead to win back the trust of the Brazilian people.
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