Finance industry's assessment of Brazil Finance Minister worsens-poll

Financial market players have significantly worsened their assessment of Brazilian Finance Minister Fernando Haddad, as well as the country's economy, a poll by Genial/Quaest showed on Tuesday.

Financial market players have significantly worsened their assessment of Brazilian Finance Minister Fernando Haddad, as well as the country's economy, a poll by Genial/Quaest showed on Tuesday. Haddad's performance was seen as positive by 46% of those surveyed in September, well below the 65% registered in the previous poll in July, while those who consider his performance as negative grew to 23%, from 11% previously. Those who viewed the minister's attainment as regular stood at 31%, compared to 24%.

The survey also showed a worsening of expectations about the country's economy, even as its most recent gross domestic product (GDP) figure beat expectations, prompting analysts to raise their economic growth estimate for the year. According to the poll, 36% of those surveyed expect Brazil's economy to improve over the next 12 months, down from 53% in July. The percentage of those who expect it to worsen rose to 34%, from 21%.

For 57% the main problem hindering economic growth is the lack of a working fiscal policy, compared to 45% in July. Meanwhile, 22% blame electoral interests, from 19% previously, while 15% attribute it to the population's low level of education and productivity, compared to 21%, and 6% blame high interest rates, compared to 11% in July.

Almost all of those consulted, 95%, also said that they believe the government will not achieve its goal of ending the fiscal deficit by 2024. A large majority, 86%, also believe that even if all the government's measures to reach the target are approved, it will not be enough to achieve a zero deficit. The survey was carried out online with 87 economists, portfolio managers and decision-makers from the financial market in Sao Paulo and Rio de Janeiro between September 13-18.

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