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Economy & Business - April 2024
BRAZIL: Lula returns to statism as popularity slips
Brazil’s President Luiz Inácio Lula da Silva was so upset when his far-right predecessor Jair Bolsonaro (2019-2023) privatised state-owned companies such as electricity firm Eletrobras and fuel distributor BR Distribuidora, that he threatened to undo the sales if he ever made it back to power. He was persuaded to abandon the idea, for all the legal chaos and reputational damage it would have caused Brazil. But the rage remains, and time and again it shows.
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