Brazil will have more to endure until the end of its economic purgatory. The new federal administration cannot be deemed unequivocal prior to mid-August, when the impeachment of the politically agonizing and suspended President is set to be decided upon without further appeal. But the latter and her allies refuse to let go without a fight, their final desperate bet being to attempt toppling the new government through its implication in the same corruption scandals by which means they themselves have fallen in the first place.
For a country in need of urgent reforms and solid support to tough emergency measures, any instability – purposefully induced or not – is bound to retard any soothing effects. But even in such a scenario intended change of direction alone produces encouraging consequences which may range from steady financial indexes to industrial performance. That is exactly what transpired in the local media this week.
According to the O Estado de São Paulo newspaper the country’s industrial revenue in the first four months amounted US$ 2.39 billion, an unexpected increase of almost 2% from last year. In the past two years automakers hired 1,230 workers just to cope with increasing export demand. In the past few weeks alone Brazil’s top companies combined managed to amass close to US$ 10 billion through the offer of bonds in the international marketplace.
No time for predictions yet, but that might mean the worst is past. Just perhaps.
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