Bolsonaro’s Controversies may Impact Congressional Voting and Investor Mood

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro squandered the Congressional recess period with a string of controversies, which could impact governmental votes in Congress and the mood of investors, over the uncertainties that the presidential style may have on the future of his administration. This is an assessment of leaders and entrepreneurs heard by the blog.

On the verge of returning to work, party leaders are disheartened by what they are finding in Brasília as they return from congressional recess.

The assessment is that president Bolsonaro wasted the recess period with polemics, including the attack on Northeastern governors, saying that hunger in Brazil is a great lie and personally provoking the president of the Brazilian Bar Association, Felipe Santa Cruz, by disclosing a version about the death of his father that is in contradiction with documents from the Brazilian state itself.

In the words of a party leader, instead of using the recess period to build bridges with Congress for the upcoming votes, critical to his government, Bolsonaro only disrupted his own administration.

As a result, leaders believe that presidential controversies should not impact state agendas, such as the social welfare reform, but could jeopardize those of the administration.

These include anti-crime, weapons, and privatization projects. These could be affected because the mood within Congress would only have worsened for the president from the start of congressional recess.

In short, according to party leaders, the president only caused upset at a time when he ought to be seeking to improve his relationship with Congress.

The presidential style also worries entrepreneurs and financial market analysts. As the economy begins to show signs of recovery, through measures by the economic team itself such as authorization of withdrawals from the FGTS and potential cuts in interest rates, Bolsonaro ends up unleashing controversy after controversy, which could affect investors’ expectations.

Without confidence in the current administration’s future, the desire to invest in Brazil could be reduced, halting the recovery or slowing the country’s pace. This assessment was made privately by entrepreneurs and market economists, who do not understand why no presidential advisor has the nerve to tell the president that he is shooting himself in the foot over and over.