Lula's Popularity Soars Amid Criticism of Central Bank Policies

Brazil's President Lula's approval rating reached its highest in 2024. A Genial/Quaest poll showed 87% agree with his criticism on high interest rates. His approval went up to 54% in July, with disapproval at 43%. The survey included 2,000 respondents with a margin of error of ±2 percentage points.

Brazil's President Luiz Inacio Lula da Silva has hit his highest approval rating in 2024, according to a Genial/Quaest poll released Wednesday. The survey revealed 87% of respondents support his stance on high interest rates set by the central bank. Lula's governing approval climbed to 54% in July from 50% in May, while disapproval fell to 43% from 47%.

Although 66% of those polled backed Lula's public criticism of the central bank, 64% admitted they were unaware of his remarks. The poll also indicated that 53% do not attribute the Brazilian real's depreciation against the U.S. dollar to Lula's comments, while 34% do, and 13% remain unsure.

The Brazilian currency has slumped over 10% in 2024, compounded by a strong dollar and concerns over Lula's fiscal policies and his conflict with central bank chief Roberto Campos Neto. The Genial/Quaest survey interviewed 2,000 eligible voters between July 5-8, with a margin of error of ±2 percentage points.

(With inputs from agencies.)