An uncooperative legislature, combined with the fallout from an ongoing corruption scandal at Brazil's state-owned oil company, will pose persistent headwinds for President Dilma Rousseff in the coming months. These factors will hinder policy formation and ensure that social instability persists, weighing on business confidence and economic growth.
Brazilian President Dilma Rousseff will remain in power even as a corruption scandal at national oil company Petrobras has implicated several members of the ruling legislative coalition. That said, the president will struggle to retain control of the country's legislative agenda due to widespread public unrest and minimal political capital.
Brazilian President Dilma Rousseff's approval ratings are likely to remain relatively consistent in the coming months unless there is substantial evidence of wrongdoing on her part or that of her close associates with regard to an unfolding corruption scandal at state-owned oil company Petrobras.
Planned subsidy reform will help Brazilian national oil company Petrobras address rising pressures on its balance sheet. Brazil's fuel subsidies, which are paid for by Petrobras, have proved unsustainable, driving up the company's heavy debt burden.
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