Brazil is still reeling economically from the effects of the coronavirus
pandemic, which was handled disastrously by Bolsonaro. So far it has left more than 691,000 deaths in its wake. Brazil’s public debt stands at around at 76 per cent of GDP, while its annual growth rate for 2022 stood at
roughly 2.5 per cent. Unfortunately, the situation for millions of Brazilians remains bleak with millions living below the poverty line.
In March 2021, Brazil's Supreme Federal Court annulled all the convictions. Supreme Court Justice, Edson Fachin, said the court that had convicted Lula had lacked the necessary jurisdiction and annulled the investigation on the basis that Moro could not be considered as having been impartial.
CHALLENGES AHEAD
Both Bolsonaro and Lula suffered high levels of public disapproval during the campaign with around 40 per cent of voters having a negative perception of both candidates. Lula only won by the narrowest of margins, meaning it will be hard for him to put in place his economic agenda – whatever that turns out to be. His coalition is made up of 10 parties, including communists and conservatives. At the same time, Bolsonaro did better than expected overall. Brazil is a multi-party federal system with 23 parties in parliament. Overall, Congress remains tilted to the centre-right.
While eager to tap into nostalgia of economic growth during his past presidencies, Lula has been vague when it comes to exactly what he intends to do. However, he did select a moderate, business- friendly running mate in Geraldo Alckmin. Alckmin served as
P94 WIRE / PULSE / INSIGHT / REPORTS
governor of the state of São Paulo three times and co-founded the centre-right Partido da Social Democracia Brasileira.
Brazil is still reeling economically from the effects of the coronavirus pandemic, which was handled disastrously by Bolsonaro. So far it has left more than 691,000 deaths in its wake. Brazil’s public debt stands at around at 76 per cent of GDP, while its annual growth rate for 2022 stood at roughly 2.5 per cent.
In addition, Bolsonaro launched a massive public spending campaign before the election in order to try and gain more support in his battle with Lula. Unfortunately, the situation for millions of Brazilians remains bleak with millions living below the poverty line.
So how does Lula intend to unite such a divided electorate and improve living conditions? We are being given some insight into this now. Lula is allowed to hire up to 50 staff members to help him manage the transition. Te transition officially began on November 3, 2022, and this remained active until his inauguration on January 1, 2023. Alckmin was appointed as the chair of Lula's transition team and broadly speaking he has appointed left-leaning economists. In addition, he named former Sao Paulo mayor, Fernando Haddad, viewed unfavourably by many in the business community, as his finance minister.
Members of the Lula team have been unimpressed with the hand they’ve been dealt by the former administration. Past minister and transition team member, Aloizio Mercadante, said President Jair Bolsonaro had left the Brazilian state ‘bankrupted.’ Meanwhile, Senator Marcelo Castro, who is
leading budget bill negotiations, said there were no available resources to pay for different government programmes next year.
LULA’S RECORD ON GAMBLING
So, if the government coffers are in such bad shape, why not green light gambling? Lula’s record on gambling has not been a positive one as scandals over bingo hall owners and the illegal street lottery, called the jogo do bicho (the animal game), nearly led to his downfall years ago. Until then, the party he had founded had enjoyed
Lula’s record on gambling has not been a positive one as scandals over bingo hall owners and the illegal street lottery, called the jogo do bicho (the animal game), nearly led to his downfall
years ago. Until then, the party he had
founded had enjoyed a relatively unsullied reputation. In fact, Silva’s The Worker’s Party had
investigated allegations of
corruption against various
administrations over the years.
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