If you are usually concerned about the the sustainability of Brazilian public debt generally guides the evolution of the exchange ratenext year, during the elections, this tends to intensify. This is the reading made by the manager Thierry Larosefrom Switzerland Vontobel wealth management. “Budget issues have long been a central source of real risk, and that risk tends to intensify in an election year. In addition to tax holidays that take effect in January, measures to increase spending can be introduced during the campaign, because the popularity of government officials is usually closely linked to consumer confidence,” he says.
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