Trust in Government and Media Declines in Brazil While Rising in Argentina
The Edelman Trust Barometer reveals contrasting trends between South America’s two largest economies. Brazil sees trust in government and media declining while Argentina experiences a surprising surge in institutional confidence.
Brazil’s trust in government dropped from 53% to 51% in 2025, pushing the country down to 15th place in a 28-country global ranking. This decline stems primarily from growing pessimism among lower-income Brazilians.
Despite this, Brazil’s economy grew 3.4% in 2024, outperforming expectations through strong domestic demand. Argentina stands as the year’s biggest trust gainer, jumping from 39% to 48% despite ongoing economic turbulence.
President Javier Milei’s aggressive reform agenda created this paradoxical rise in public confidence. His administration achieved nine consecutive months of fiscal surplus through painful budget cuts and below-inflation increases in public sector wages.
Brazilian economic growth will likely slow in 2025 as weak government finances contribute to inflation and higher interest rates. Consumer confidence recently fell to its lowest level since August 2022.
The central bank faces pressure to control inflation while supporting growth in an increasingly challenging environment. Argentina tackled catastrophic 211% inflation from 2023 through dramatic measures.
Argentina and Brazil Navigate Economic Reforms
Milei devalued the peso by 50% in December 2023 and slashed government spending. These actions reduced monthly inflation from 40% to under 14% by early 2024. Economists project continued inflation decline through 2025 despite anticipated GDP contraction of 2.5%.
Trade relations between the neighbors show positive signs. Brazilian exports to Argentina jumped nearly 58% in January 2025 as exchange rates stabilized. This growing trade partnership could help buffer Brazil’s domestic slowdown.
Both nations face distinct challenges in building institutional trust. In Brazil, 76% of citizens fear government authorities spread false information, up from 67% in 2021.
Argentina struggles with severe corruption perceptions, ranking 99th globally in Transparency International’s index. The diverging trust trajectories create an unexpected narrative in Latin American economics.
Argentina builds confidence through painful reform while Brazil sees eroding trust despite stronger economic fundamentals. Both countries now navigate the delicate balance between fiscal discipline and public confidence in 2025.
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