Thursday, June 25, 2015

Bad Economic News for Dilma

All kinds of bad news for Dilma Rousseff these days. The Brazilian Central Bank increased its inflation forecast to 9% and increased its forecast for economic contraction to 1.1%. Meanwhile, unemployment crept up to its highest level in four years.

After two years of hearing how she was sticking it to the U.S. by not visiting, now her trip to see President Obama at the end of this month seems much more like something she needs to shore up her image at home. With economic problems and major corruption scandals, her approval rating is now at 10% and 65% of Brazilians think her government is a "failure."

Having just been re-elected, there is hope for recovery. Or this could be a long, miserable road.


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