Today, the Brazilian population is less than confident about the country’s recovery prospects. Economy Minister Paulo Guedes sees his influence wane even further. And another massive vaccine trial.
Brazilians are pessimistic about the future
A survey commissioned by the National Confederation of Industry (CNI) shows that the Brazilian population is becoming more pessimistic about the country’s economic outlook. For 71 percent of people, any recovery will only be seen in up to two years or more — a 10-point increase from June 2020. Moreover, 51 percent believe the bounceback will take more than two years.
Why it matters. Confidence in the economy has a direct impact on people’s willingness to spend, and family consumption is a key driver of Brazil’s GDP.
- Over 70 percent of people have tightened their belts, and 37 percent said their reduction in consumption levels is likely to be “permanent.”
Fatigue. The proportion of Brazilians who say businesses should be allowed to reopen has jumped significantly since mid-2020, regardless of the sector in question. The biggest leap came in relation to reopening schools, supported by 47 percent of people — 21 percentage points more than in June 2020.
Jobs. On Tuesday, President Jair Bolsonaro issued a provisional...