Brazil’s Economy Is Slowing. Will It Ruin Lula’s Chances?
By
Alessandra Ribeiro
Voters are feeling the squeeze from high interest rates and other factors.
SÃO PAULO — With less than a month to go until Brazil’s election, the economy is clearly slowing under the weight of high interest rates, rising debts and consumer concerns about affordability. Whether the downturn is enough to fatally wound President Luiz Inácio Lula da Silva’s reelection bid is another question entirely. In the most recent survey from Quaest, a local pollster, almost half of Brazilians agreed that the economy has worsened over the last 12 months. The statistics back them up: GDP expanded 1.1% in the first quarter, and only 0.5% quarter-over-quarter in the...
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