“Bolsonaro will have a hard time implementing his fiscal agenda,” agreed Mayra Rodriguez Valladares, a US economic consultant and specialist on Latin American politics at MRV Associates.

She added that a steep drop this month in prices for oil — an important Brazilian export — coupled with a slowdown in top trading partner China created headwinds for Brazil’s economy. Longer-term goals, such as infrastructure and job training, are going largely ignored, she said.