After nine months in office, many believe that Lula’s election promises are beginning to wear thin as growth falters and high interest rates hamper Brazil’s business sector.
During last year’s presidential election, Brazil’s corporate sector was split more evenly than many expected between José Serra, centrist candidate of the outgoing Party of the Brazilian Social Democracy (PSDC) of Fernando Henrique Cardoso, and the former firebrand leftwinger and eventual winner, Luiz Inácio Lula da Silva of the Workers’ Party (PT).
