Improving poll numbers have given Brazilian opposition Senator Flavio Bolsonaro additional time to select his economic advisory team as he prepares for the October presidential election, according to campaign sources.
The 44-year-old senator has dedicated significant time to international travel, meeting with conservative allies abroad and visiting his father, former President Jair Bolsonaro, who is currently under house arrest in Brasilia following his conviction related to a failed coup attempt.
Despite this approach, polling data shows Flavio Bolsonaro now running neck-and-neck with 80-year-old President Luiz Inacio Lula da Silva in projected head-to-head scenarios. The current leftist president faces challenges from economic slowdown and a banking corruption scandal affecting the capital.
Campaign insiders indicate that Bolsonaro’s growing support, built on a platform similar to his father’s policies, provides additional flexibility for assembling his advisory team and developing policy proposals to build a successful electoral coalition.
The economic team announcement, originally scheduled for May, may face further postponement if current polling trends persist, according to one source. Initially, campaign officials had suggested the economic platform could be unveiled as early as February when Bolsonaro was working to gain business community confidence in December.
This strategy differs markedly from the elder Bolsonaro’s 2018 campaign approach, when the then-congressman selected Paulo Guedes as his chief economic adviser nearly twelve months before the election to calm investor concerns.
The senator’s cautious strategy will encounter new challenges as additional right-wing candidates enter the race. The Social Democratic Party recently nominated Goias state Governor Ronaldo Caiado, while Minas Gerais Governor Romeu Zema is campaigning for the Novo Party.
Carlos Melo, a political scientist at Insper in Sao Paulo, commented on the increasingly competitive conservative landscape: “It will be a turbulent campaign.” However, he noted that the gubernatorial candidates face significant obstacles in overtaking Bolsonaro’s position.
Caiado made a direct pitch to Jair Bolsonaro supporters on Monday, promising comprehensive pardons for individuals convicted in connection with the 2023 coup attempt, including the former president who remains under home confinement due to medical conditions.
In an interview with Reuters, Zema emphasized his intention to use his administrative experience in Minas Gerais and his clean reputation in a nation troubled by corruption scandals to provide conservative voters with an alternative option, while acknowledging the challenging path ahead in early polling.
“All political campaigns are somewhat unpredictable,” Zema stated.
Flavio Bolsonaro, who served as a Rio de Janeiro state legislator before winning his Senate position during his father’s 2018 presidential campaign, has provided limited specifics regarding his economic agenda. He has committed to reducing taxes and government expenditures while enhancing conditions for business operations.
Campaign advisers believe his polling momentum will attract greater interest from prospective cabinet appointees.
Sources within Bolsonaro’s circle revealed that the campaign has established preliminary discussions with potential advisers, including former Treasury Secretary Mansueto Almeida, currently with BTG Pactual, and former central bank governor Roberto Campos Neto, now serving as vice chairman at digital banking company Nubank.
Both individuals served in the previous Bolsonaro administration from 2019 to 2022.
Speaking at a Boston conference over the weekend, Almeida confirmed he continues working in the private sector and has not received approaches from any presidential candidates. Campos Neto did not provide a response to requests for comment.
