Cover of British magazine, on newsstands from January 2
Traditional Economist British magazine dedicated to first cover 2016 to Brazil.
Entitled "Brazil of the Fall" and a picture of President Dilma Rousseff crestfallen, publication, on newsstands from January 2, it provides that the year 2016 will be disastrous for the country.
The magazine points out, in the first paragraph of the matter, that Brazil should start the year in an atmosphere of euphoria due to the Olympic Games in Rio de Janeiro, making a spectacular party. But instead, the country faces "a political and economic disaster."
The text reminds the risk of impeachment Dilma by Congress, the corruption scandal surrounding the Petrobras and reducing the country's credit rating by the rating agencies Standard & Poor's and Fitch.
She also cited the resignation of Minister of Finance, Joaquim Levy, after less than a year ahead of the folder, and the decrease of estimated savings of 2.5% and 3% in 2016, "not much less than in 2015". According to the publication, "even Russia, dependent on oil and full of penalties, must do better."
Citing the BRICs - group formed by Brazil, Russia, India, China and South Africa - the Economist says the country was supposed to be at the forefront of growth in emerging economies. But, on the contrary, it faces political dysfunction and maybe the return of rampant inflation.
"Only tough decisions can bring Brazil back to their way," he said, adding that the country should carry out major reforms such as Social Security and labor legislation. But in view of the publication, reforms should not be put in place because "at this time, Dilma seems to have no stomach for them."
The Brazilian bureaucracy will cause the current Minister of Finance, Nelson Barbosa, has difficulties in 2016 to put the country on track. And to make matters worse, there is resistance within the government coalition, especially the PT, which is against cutting spending, and the opposition, which intends to proceed with the impeachment process.
The magazine asks: "If Dilma can not implement change?" The answer, according to the newspaper, would be the growth of public debt and losses in social gains.
"The conquest of Brazil was to remove tens of millions out of poverty. The recession could stall or even reverse this process. The hope is that Brazil, which hardly reached the economic and democratic stability, do not fall back into mismanagement and chronic turbulence "says the Economist.
Magazine has given other things to the country
It's not the first time that the Brazilian crisis features prominently in traditional business magazine. In February this year, the publication placed on the cover of its version for Latin America the headline
"The quagmire of Brazil" and a drawing of a samba school passista covered by a green goo.
At the time, the magazine said the country was going through its greatest turmoil since the early 1990. The journal said that the country's economic problems were far greater than the government admitted or that investors might realize, and recalled the scandal corruption at Petrobras.
The magazine also highlighted the country in November 2009. The cover showed the Christ the Redeemer in Rio de Janeiro, taking off like a rocket and titled "Brazil takes off". As early as September 2013, the publication went back to punching a similar assembly with the 2009, but now with the Christ Redeemer sinking after flying and the title "Will Brazil blew it?".
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