Since the elections, it was clear that President Jair Bolsonaro’s first year in office would be defined by the challenge to balance the public accounts through an overhaul of the social security system. This complex matter is by far the most important item on the government’s agenda—and what may decide the fate of the administration come 2022—but didn’t receive much of the president’s attention so far.
Although the bill reached Congress swiftly, the real battle has not started yet. Analysts and politicians have criticized the government’s negotiation skills and the self-inflicted crises that have overshadowed its priorities. As a result of delays and a sense of inactivity, economic expectations are deteriorating and people are starting to question whether the government will be strong enough to approve not only the pension reform, but further overhauls.