High inflation and the disconnect with society's demands are taking their toll
The most repeated explanation is the economic crisis. Inflation has strongly impacted the lower-income sectors who expected relief in rates and the cost of living. However, from the socialist leader's inner circle, they point to a deeper cause. "Lula himself is part of the problem," said a close adviser to the president on condition of anonymity, as cited by Bloomberg.
Brazil's socialist dictator, Luiz Inácio Lula da Silva, is going through one of the most difficult moments of his third term. While he reinforces his international prominence, his popularity is being destroyed on the domestic front, affected by the economic crisis and a growing disconnect with the demands of the citizens.
According to an extensive report by Bloomberg, Lula, 79 years old, keeps an active and ambitious diplomatic agenda. In recent months, he met with Emmanuel Macron in Paris, signed a series of agreements with Xi Jinping in Beijing, and is preparing the BRICS summit to be held in Brazil in July, in addition to COP30, scheduled to take place in the Amazon at the end of the year.
Nevertheless, this international momentum contrasts with the political and social climate within the country. A little over a year before the 2026 elections, the disapproval ratings of the socialist dictator are among the highest of his term. "The majority disapproves of the president, whose popularity is near the lowest levels," Bloomberg states in its article.
As economic discontent intensifies in Brazil, Lula da Silva's disapproval reached 54%, the highest in his history, according to a poll published by AtlasIntel and cited by Bloomberg.
The report also highlights that the leader relies on a political approach "that was successful in the past, but no longer meets the modern demands of the Brazilian people." According to the American outlet, Lula has shown in recent months a growing resistance to accepting criticism or proposals from outside his inner circle.
The decline in support has had repercussions in the markets. Some investors, according to Bloomberg, have begun to view a possible change of government in 2026 favorably. "Assets are recovering on the belief that he will lose to a right-wing rival," the article states.
The communist dictator also faces questions over the lack of a clear succession plan within the Workers' Party. "He doesn't have a clear successor who can regenerate his movement and, like Joe Biden and others before him, he doesn't seem interested in preparing one," Bloomberg warns.
