Brazil’s Finance Minister Haddad rises in favor, with market confidence soaring to 65% in latest survey

Finance Minister Fernando Haddad’s market approval has soared to 65% in a recent survey conducted by Genial/Quaest.

The survey involved 94 professionals from major investment houses in Rio de Janeiro and São Paulo, including managers, economists, analysts, and decision makers.

These results indicate a positive assessment of Haddad’s performance as part of President Luiz Inácio Lula da Silva’s economic team.

Previously, Haddad’s approval ratings were considerably lower, with ratings of 10% in March and 26% in May.

However, the latest survey demonstrates a significant shift in market perception, with disapproval dropping to 11% in July.

This positive evaluation of Haddad’s work aligns with a broader improvement in the opinion of the Lula government.

Negative assessments decreased from 86% in May to 44% in July, while positive views increased from 2% to 20% during the same period.

The survey also highlights an increase in the perception of the government’s effectiveness in pushing its agenda in Congress.

This perception rose from 10% in May to 27% in July.

Conversely, the number of people who believe the government has a low capacity for legislative articulation decreased by 15 percentage points to 24%.

Regarding tax reform, 66% of participants believe it will improve people’s well-being, and 54% anticipate a decrease in interest rates with the reform’s approval in the Chamber of Deputies.

Moreover, all respondents agree that the Selic rate will decline this year.

The survey reveals that 51% of respondents believe Brazil’s image has improved since Lula assumed office.

Looking ahead, 54% of economic agents expect Brazil to become an attractive destination for foreign investment in the coming years, while 39% anticipate no significant change, and only 7% expect a decrease in foreign investment.