Recent protests in Brazil (over the state of public services, infrastructure, and how money is being spent) were probably a pretty great indication that the current President Dilma Rousseff was not too popular.
But prior to seeing this chart from SocGen, we hadn’t quite appreciated just how violent her collapse in popularity was.
Analyst Eamon Aghdasi keys off of a brand new poll that came out today.
One of the most intriguing indicators in Brazil at the moment is the popularity of the government, and specifically the approval rating of President Dilma Rousseff. Since she was inaugurated in January of 2011, Dilma has enjoyed remarkable support from the electorate, with per cent approval ratings hovering in the 70s. But recently, largely under the weight of the current protest movement, the President’s once sky-high popularity has weakened considerably. Today’s CNT poll result paints a stark picture: Dilma’s approval rating as measured by this poll is now running below 50 per cent (49.3%), an astounding drop from the 73.7% result registered just a month earlier.
The collapse in popularity has significance for investors, because an unpopular President isn’t going to be inclined to engage in fiscal consolidation or anything like that, even if that’s what’s called for.
Check out the chart:
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