Bolsonaro Puts Pressure on Guedes for Economy to Grow 2%

President fears electoral consequences in 2022 if market loses optimism


President Jair Bolsonaro is holding Minister of the Economy Paulo Guedes accountable for the 2 percent growth that he expects in Brazil’s economy this year.

Jair Bolsonaro promoted Guedes as a super minister when he entered office, and now the minister is under pressure to show results in the economy. President

Brazil's President Jair Bolsonaro gestures next to Brazil's Economy Minister Paulo Guedes during a launch ceremony of real estate credit incentive program of the Caixa Economica Federal Bank at the Planalto Palace in Brasilia, Brazil Fabruary 20, 2020. REUTERS/Adriano Machado - REUTERS

In a meeting this week with Guedes, the President reinforced the need for the economy to grow at least 2 percent in 2020.

Bolsonaro fears that business people and investors will lose optimism as the 2022 election approaches.

In response, the minister stated that it was possible to reach or even exceed the percentage. However, the response did not reassure the President, who, in private conversations, has shown concern about weak growth and indicators such as the dollar, which broke a new record yesterday.

According to palace ministers, Bolsonaro recognizes that Guedes helps in the credibility of his government and that his departure could be traumatic. But on Tuesday (18), he stated that he “has some specific problems”, about his controversial phrases about servants and domestic workers.

Translated by Kiratiana Freelon

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