Zürcher Nachrichten - Comeback king Lula gets delayed honeymoon in Brazil

EUR -
AED 3.855359
AFN 71.377323
ALL 98.9304
AMD 409.516427
ANG 1.892125
AOA 958.34413
ARS 1056.623594
AUD 1.615519
AWG 1.889397
AZN 1.783436
BAM 1.959346
BBD 2.119737
BDT 125.457077
BGN 1.955898
BHD 0.395617
BIF 3039.829534
BMD 1.049665
BND 1.414788
BOB 7.281457
BRL 6.100126
BSD 1.0499
BTN 88.512294
BWP 14.342507
BYN 3.435719
BYR 20573.431932
BZD 2.116271
CAD 1.468019
CDF 3012.538394
CHF 0.930822
CLF 0.037165
CLP 1025.470248
CNY 7.599311
CNH 7.606927
COP 4605.667141
CRC 535.068474
CUC 1.049665
CUP 27.81612
CVE 110.686953
CZK 25.297954
DJF 186.546724
DKK 7.457556
DOP 63.403524
DZD 140.299428
EGP 52.079328
ERN 15.744973
ETB 129.119469
FJD 2.388985
FKP 0.828518
GBP 0.835408
GEL 2.875939
GGP 0.828518
GHS 16.58171
GIP 0.828518
GMD 74.526346
GNF 9059.657727
GTQ 8.106673
GYD 219.655948
HKD 8.169091
HNL 26.482792
HRK 7.487532
HTG 137.799417
HUF 409.458002
IDR 16637.71341
ILS 3.824506
IMP 0.828518
INR 88.457727
IQD 1375.585844
IRR 44164.650178
ISK 145.073956
JEP 0.828518
JMD 166.621585
JOD 0.744525
JPY 161.875648
KES 135.931727
KGS 91.099783
KHR 4252.192128
KMF 495.96684
KPW 944.698007
KRW 1469.588545
KWD 0.323055
KYD 0.874917
KZT 524.238873
LAK 23050.641277
LBP 94049.974422
LKR 305.502961
LRD 188.939707
LSL 19.03039
LTL 3.099387
LVL 0.634932
LYD 5.127613
MAD 10.574845
MDL 19.19247
MGA 4901.935038
MKD 61.604812
MMK 3409.270632
MNT 3566.761255
MOP 8.413649
MRU 41.886862
MUR 49.039901
MVR 16.227576
MWK 1821.168622
MXN 21.256448
MYR 4.673157
MZN 67.084504
NAD 19.030647
NGN 1771.288201
NIO 38.575455
NOK 11.650062
NPR 141.620031
NZD 1.795658
OMR 0.404098
PAB 1.04992
PEN 3.982432
PGK 4.225689
PHP 61.895602
PKR 291.596027
PLN 4.312506
PYG 8179.805456
QAR 3.821305
RON 4.976566
RSD 116.999844
RUB 109.171889
RWF 1438.040905
SAR 3.941569
SBD 8.799923
SCR 14.330794
SDG 631.372893
SEK 11.529645
SGD 1.412723
SHP 0.828518
SLE 23.858676
SLL 22010.952976
SOS 599.826672
SRD 37.256789
STD 21725.944051
SVC 9.186628
SYP 2637.314389
SZL 19.030664
THB 36.384557
TJS 11.191784
TMT 3.673827
TND 3.338456
TOP 2.458422
TRY 36.294159
TTD 7.131043
TWD 34.062702
TZS 2781.612304
UAH 43.569361
UGX 3890.040978
USD 1.049665
UYU 44.750999
UZS 13467.200332
VES 48.873774
VND 26682.481618
VUV 124.618326
WST 2.930235
XAF 657.15898
XAG 0.034777
XAU 0.0004
XCD 2.836771
XDR 0.803054
XOF 655.517644
XPF 119.331742
YER 262.33747
ZAR 18.932858
ZMK 9448.244693
ZMW 28.950504
ZWL 337.991668
  • RYCEF

    -0.0200

    6.78

    -0.29%

  • RBGPF

    -0.9500

    59.24

    -1.6%

  • CMSD

    0.1100

    24.57

    +0.45%

  • VOD

    0.1950

    8.925

    +2.18%

  • CMSC

    0.0578

    24.73

    +0.23%

  • SCS

    0.5700

    13.84

    +4.12%

  • RIO

    0.7800

    63.13

    +1.24%

  • NGG

    0.1250

    63.235

    +0.2%

  • BCC

    9.2400

    153.02

    +6.04%

  • JRI

    0.1720

    13.382

    +1.29%

  • BCE

    0.1700

    26.94

    +0.63%

  • RELX

    -0.1350

    46.615

    -0.29%

  • BTI

    0.0150

    37.395

    +0.04%

  • BP

    -0.3250

    29.395

    -1.11%

  • GSK

    0.2200

    34.18

    +0.64%

  • AZN

    0.8600

    66.49

    +1.29%

Comeback king Lula gets delayed honeymoon in Brazil
Comeback king Lula gets delayed honeymoon in Brazil / Photo: EVARISTO SA - AFP

Comeback king Lula gets delayed honeymoon in Brazil

Economic growth is up, Amazon deforestation is down and he's scored some key wins in Congress: Brazilian President Luiz Inacio Lula da Silva finally appears to be getting a delayed honeymoon in his third-term comeback.

Text size:

Once called "the most popular politician on Earth" by no less than Barack Obama, veteran leftist Lula got off to a bit of a rough start when he returned to office on January 1, following a brutal, divisive election against far-right incumbent Jair Bolsonaro.

But a poll last week by the Genial/Quaestinstitute put Lula's approval rating at a solid 60 percent, well up from the 51 percent he scored in April -- if not quite on par with the 87 percent he basked in when leaving office in 2010 after his first two terms.

It appears the 77-year-old president is hitting his stride in "Lula Three," after a first 100 days marred by gaffes, battles with Congress and mistrust from the business sector -- not to mention riots by Bolsonaro supporters who trashed the presidential palace, parliament and Supreme Court in Brasilia a week after his inauguration.

"Four or five months ago, no one would have thought Lula would be in such a favorable position today," international relations specialist Leonardo Paz Neves of the Getulio Vargas Foundation told AFP.

None of which is to say it could not all fall apart, of course.

Arguably no one knows that better than Lula himself, who presided over a watershed boom in the 2000s and left office an international icon, only to be imprisoned eight years later on controversial corruption charges -- since quashed by the Supreme Court.

- Lucky Lula -

Lula, who grew up in deep poverty before becoming a metalworker, union leader and then president, enjoyed great good fortune in his first two terms, when booming demand for Brazil's key commodity exports unleashed whirlwind economic growth.

These days, Latin America's biggest economy is far from the dynamo it was in the 2000s. But Lula still looks to have a bit of the Midas touch.

The economy grew a better-than-expected 1.9 percent in the first quarter, according to government data, and analysts predict growth of two to 2.5 percent for this year.

Lula also scored a key victory last Tuesday when Brazil's Congress passed new budget rules, ditching strict spending caps and enabling the administration to free up money for social and infrastructure programs, in exchange for more-flexible deficit-slashing targets.

Getting the bill through the conservative-majority Congress would have been unthinkable a few months ago.

"The government showed its capacity to organize and get its projects approved," said political scientist Mayra Goulart of Rio de Janeiro Federal University.

The Congressional backing comes at a cost: Lula is expected to announce a cabinet reshuffle soon to reward centrist parties for their support.

Lula got another legislative win in July, when the lower house passed tax reforms that were decades in the making. That bill now heads to the Senate.

Fitch upgraded Brazil's credit rating last month from BB- to BB, citing the government's economic reforms.

Not all observers are convinced by these positives, however.

"For the government to respect the new budget rules, it will have to increase its revenues. And that's looking difficult," said economist Pedro Paulo Silveira.

Lula has also faced criticism at times for his close ties with Russia and China, and his reluctance to condemn the Russian invasion of Ukraine.

- Opposition sidelined -

Bolsonaro and his allies have meanwhile been weakened by a series of scandals and police investigations.

In June, electoral authorities barred Bolsonaro from running for office for eight years over his unproven allegations the voting system is fraud-prone, sidelining him from the next presidential elections, in 2026.

As the opposition struggles, Lula has been busy burnishing his international image, meeting with world leaders, giving a speech on climate change to a giant crowd in Paris in June and hosting a summit of Amazon rainforest nations earlier this month.

Environmentalists criticized the summit for its lack of concrete emissions-cutting pledges, but Brazil still emerged "as an essential country in the climate debate," Paz Neves said.

Lula can point to more promising news on that front: deforestation in the Brazilian Amazon in the first seven months of his term fell by 42.5 percent from the previous year.

F.Carpenteri--NZN