Jair Bolsonaro Feels Pressure With Infighting

Jair Bolsonaro who was recently elected as the Brazil President has already facing lot of pressure due to infighting in the government. This has become a worry among the investors raising doubts on the efficiency of President and his economic development policies. There is a rift between Presidents economic and the political team related to pension system as well as tax. Bolsonaro also said financial operations tax will be increased and the income tax will be reduced.

Paulo Guedes, the Economy Minister denied Bolsonaro’s words related to tax. There were a number of investors who were delighted with the economist’s team formed by Guedes. Some of the investors from Brazil are happy with the government, but the foreign investors are watchful. The currency of Brazil and even the stocks have been improving in recent times as the question rises about the government. The stock market is also performing well in last few months and mainly a record performance by Bovespa.