64-05-19 Latin American Economy & Business Report
Economy & Business Report
Analysing the trade war scenario
- LatinNews
Tough start to second term for Brazil's Rousseff
While a presidential inauguration is perhaps not a time for self-criticism, Brazil’s President Dilma Rousseff’s speech on starting a second term in office was notable for its hubris. “We have already accomplished the impos- sible,” she said. “Only miracles are yet to come.” After 12 years of the left-wing Partido dos Trabalhadores(PT) in power it was unsurprising that the crowd that attended the event was much smaller than for previous inau- gurations. But the fact no opposition leader showed up is indicative of the poisonous political atmosphere at the start of Rousseff’s second term. Growth is weak, inflation high and the political implications of the massive corruption scandal at the state oil giant Petrobras have only just begun.