Brazil's election and the economy

Brazilians will go to the polls to elect their next president in October. With Jair Bolsonaro trailing in polls behind former leader Lula da Silva, many voters say the economy is their main worry.

We speak to small business owners in Vitoria, Espirito Santo, to get their thoughts on how financial concerns may influence voters’ choices. Mauricio Moura, founder of polling company IDEIA, tells us that the economy has never been as crucial going into a Brazilian election in modern history as it is this year.

Former Central Bank governor Gustavo Franco says he’s concerned that some people have forgotten the country’s struggles with high levels of inflation in recent decades. Solange Srour, Chief Economist of Credit Suisse Brasil, says the reduction in government benefit payments introduced during the Covid-19 pandemic have dented the president’s popularity. And Wilson Ferrarezi from TS Lombard tells us that the most pressing structural challenge for whoever wins the vote in October is reforming Brazil’s tax system. With additional reporting by Sarita Reed in Vitoria, Espirito Santo.

Presenter / producer: Tom Kavanagh Image: Homeless people in Sao Paulo; Credit: NELSON ALMEIDA/AFP via Getty Images