IBOV 167,927.15 ▲ 0.06% IPSA 11,237.90 ▼ 0.03% IPC MEX 64,436.38 ▲ 0.68% MERVAL 2,875,950 ▲ 0.05% COLCAP 2,444.32 ▼ 0.39% BVL PERÚ 58,380.78 ▲ 0.54% USD/BRL5.19▲ 0.33% USD/MXN16.95▲ 0.04% USD/CLP921.82▲ 0.05% USD/COP3,063▼ 1.39% USD/PEN3.35▼ 0.47% USD/ARS1,497▼ 0.02% USD/UYU40.21▲ 0.95% USD/PYG5,992▲ 1.19% USD/BOB11.42▲ 0.14% USD/DOP58.80▲ 1.27% USD/CRC446.30▲ 2.09% USD/GTQ7.62▲ 2.24% USD/HNL26.81▲ 1.60% USD/NIO36.62▲ 0.69% USD/VES775.47▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.93% EUR/BRL6.07▲ 0.56% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 167,927.15 ▲ 0.06% IPSA 11,237.90 ▼ 0.03% IPC MEX 64,436.38 ▲ 0.68% MERVAL 2,875,950 ▲ 0.05% COLCAP 2,444.32 ▼ 0.39% BVL PERÚ 58,380.78 ▲ 0.54% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Thursday, August 20, 2026

Brazil Brazil Elections 2026

Lula’s Coalition Faces 30-Year Loyalty Low, Threatening 2026 Election Plans

By · June 29, 2025 · 3 min read

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Brazil’s President Luiz Inácio Lula da Silva is facing the least reliable support from his congressional allies in three decades, according to official voting records.
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\nOnly 72% of lawmakers from parties with ministries have backed Lula’s government in key votes this term.
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\nThis is the lowest rate since 1995 and matches the level seen during the impeachment crisis of former President Dilma Rousseff.
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\nPast presidents like Fernando Henrique Cardoso and Michel Temer enjoyed much higher rates, above 90%.
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\nThis weak support has led to important defeats for Lula. In June 2025, Congress overturned his decree to raise the IOF tax on financial transactions.
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\nEven parties with ministers in Lula’s cabinet, such as União Brasil, MDB, PSD, Republicanos, PP, PDT, and PSB, mostly voted against him.
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\nOut of 513 deputies, only 98 supported Lula’s position, while 383 opposed it. The Senate also rejected the measure.
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\nThis was the first time since 1992 that Congress had overturned a presidential decree, showing how fragile Lula’s base has become.
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\nSeveral reasons explain this situation. In recent years, Congress has become more independent.
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Lula’s Coalition Faces 30-Year Loyalty Low, Threatening 2026 Election Plans
Lula’s Coalition Faces 30-Year Loyalty Low, Threatening 2026 Election Plans
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Lula’s Coalition Faces 30-Year Loyalty Low, Threatening 2026 Election Plans

\nChanges in the law made most parliamentary amendments mandatory, meaning lawmakers get their funding regardless of how they vote.
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\nMinistries, once powerful bargaining chips, lost influence because much of their budgets are now earmarked for these amendments. As a result, party leaders in Congress now hold more power than ministers.
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\nLula’s own approach has made things harder. Deputies from allied parties say Lula has kept his distance from direct negotiations and given the most important ministries to his own Workers’ Party.
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\nThis has frustrated coalition partners, who want more influence and better positions in government. Some parties, like the PSD, have publicly criticized Lula for not giving them more relevant ministries.
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\nLula’s popularity is also falling. The latest Datafolha poll shows his approval rating at 28% and disapproval at 40%, among the lowest in his three terms.
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\nAs Lula’s image weakens, parties see less reason to support him, especially with the 2026 presidential election approaching. Many are already considering their own candidates.
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\nThe opposition has taken advantage of this. Leaders from the Liberal Party argue that Lula’s government focuses on tax increases and fights with Congress.
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\nThey claim the government tries to blame lawmakers for unpopular measures, like higher electricity bills.
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\nMost of Lula’s coalition now comes from center-right and right-wing parties, which together hold almost half the seats in the Chamber of Deputies.
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\nThese parties have often opposed Lula on key issues, including investigations, prisoner leave policies, and land demarcation rules. Many are preparing to run their own presidential candidates in 2026.
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\nWith traditional bargaining tools weakened and his popularity down, Lula has few options left to unify his base.
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\nThe government is now pushing to pass measures like income tax exemptions and expanded social programs to regain support before the 2026 election, but these face strong resistance in Congress.
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For the full picture, see our Brazil Elections 2026: Complete Guide.

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