They say that the best (and most neutral) way to understand a problem is to look at it from the outside. Without the contaminated impressions of those involved in the crisis, theoretically, it is possible to have a more efficient view of mistakes and seek solutions. An article published in this week’s issue of the British magazine The Economist evidence does that. Going beyond the government’s small victories in the economy and the minimal influence of a liberal administration, the publication stated that things are not going well here. It didn’t take long for Economy Minister Paulo Guedes to defend himself. In an interview with Reuters news agency, he stated that Brazil will grow 5.5% this year – “and they will not” – in allusion to the UK economy. “How to say that Brazil is in bad shape? THE economist he should look at his navel. Brazil is better than the big economies, but particularly than the United Kingdom”. The European country posted a 1.5% GDP growth in the third quarter, and lags behind other developed economies. There, however, inflation and interest rates are under control, making it only necessary for employment to return to the pre-pandemic level for an economic acceleration.
Anyway, the reviews of the British magazine did not stop there. They confirmed that the arrival of Paulo Guedes to the government played an important role in persuading business leaders to vote “for an ex-official of the extreme right who had never shown interest prior to liberalism”. Furthermore, he stated that Guedes had very few victories in his administration. To demonstrate the problems that the minister is facing, the magazine cited inflation, interest rates, unemployment, in addition to an announced overflow in the spending ceiling0. The publication also points out that future economic growth is compromised and reinforces that the government is more interested in articulating a populist agenda that improves the president’s image during an election year than in solving the problems that hamper the resumption.
In his defense, Guedes stated that the magazine has already been wrong about Brazil in the past. And it will keep making mistakes. “Next year they continue to make mistakes, underestimating Brazil. I’m not going to say how much we are going to grow, but, just as they underestimated when we fell, this happens again now”, said the minister. At the end of the text, the British magazine ends up nailing yet another bad perception about the current Brazilian government. “Mr. Bolsonaro is not only bad for the mid-
environment, for human rights and for democracy, but also for the Brazilian economy”. Hard to disagree.
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