The Bolsonaro administration defines itself as “conservative in customs and morals” and “liberal in economics”. While there is uncertainty, fear, and skepticism about the broader goals of the administration, the economic program is off to a good start.
The new economic team headed by Paulo Guedes is committed to economic liberalization and has promised to act with boldness and urgency. What it may lack in experience is compensated by its willingness to embrace the best parts of the 2017-2018 agenda. Reform of the social security system must happen first, and already in 2019. The administration must also address a crippling infrastructure, misguided regulatory constraints, and a burdensome tax system to recover growth to a rate beyond the paltry sub-2% average of the last decade.
Paulo Vieira da Cunha, Partner, VERBANK Consulting, LLC
Alvaro Taiar, Brazil Financial Services Leader, PwC
Fábio Kanczuk, Brazilian Executive Director, World Bank Group
Christopher Garman, Group Director,Eurasia Group
Alexis Crow, Advisory Lead, Geopolitical Investing Practice, PwC
Zeina Latif, Chief Economist, XP Investimentos
Lisa M. Schineller, Managing Director, Sovereign Ratings, S&P Global Ratings