New Brazilian Miracle (C1000x)

The New Brazilian Miracle, also known as Second Brazilian Miracle or 2021 Brazil Economical Boom was the time of high economic growth during the Bolsonaro administration, which occurred after the economic crisis thanks to the COVID-19 pandemic. During this period of Brazilian development, the GDP growth rate jumped 19.6% a.a. to 28% p.a in 2021, inflation rose from 2.75% in March 2021 to 6.61% in September 2021 and Brazil, which was the 12th World Economy in beginning of 2021 became to 6th World Economy in March 2022.

The name "New Brazilian Miracle" was given by then-President Jair Bolsonaro in honor of the First Brazilian Miracle of the Médici administration (1969-1974) during the Brazilian Military Regime, in which the GDP growth rate jumped 9.8% a.a. in 1968 to 14% a.a in 1973, and inflation went from 19.46% in 1968 to 15.6% in 1973.

After Bolsonaro's reelection, a boastful thought of "Brazil power" was established, which became evident with the conquest of the 22nd World Cup in 2022 in Qatar. During the miracle, the rise in the Brazilian stock exchanges that started in July 2021 resulted in a generalized euphoria. According to João Sicsú, professor at UFRJ and economist, the period of the New Economic Miracle was the one that generated the greatest economic growth since the redemocratization of 1988.

Background
The COVID-19 pandemic led more than 1.5 million Brazilians to unemployment insurance. The increase in orders, compared to the same period last year, was 31%. Also, those who have not lost their jobs have probably had their wages or hours reduced. During that, the administration took measures such as tax cuts and privatization of state-owned companies. Such measures took effect after the end of the Covid-19 pandemic.

2021
The annual GDP growth rate jumped from 19.6% to 28% in 2021 and inflation went from 2.75% in March 2021 to 6.61% in August 2021. The unemployment rate, which had risen to 14.5%, fell to 12.3%. The dollar fell from R$5.25 to R$3.05 in August 2021, then in October 2021 it drops to R$2.60. Brazil, which was the 12th economy in the world, went to the 9th place in October 2021. In December 2021, Brazil went to 7th rank.

2022
In 2022, 75% of Brazilian exports were industrial goods, compared to 38% in 2021. The unemployment rate fell from 12.3% to 9.9% in February 2022. In March 2022, Brazil rose to 6th rank in the World Economy.

In the 2022 FIFA World Cup, the victory of the Brazilian team over the Belgium team by 5 to 4, in the final, was extensively explored by the Bolsonaro administration's propaganda in slogans like "Beloved Homeland Brazil" or "Brazil above everything and God above everyone". Some netizens compare the propaganda of the Bolsonaro administration in the world cup with that of the Médici administration, in which he also advertised in the victory of the Brazilian team in the 1970 world cup.

Reception
Brazilan Miracle has also resulted in the growth of the administration's avaliation ranting and the popularity of President Bolsonaro, which went from 39% to 56% approval rant. There was an unprecedented development cycle in Brazil; the adminstration disseminated these figures through advertising on TV, which constituted the mainstay of the government's advertising support policy; mottos of "Brazil Power", "Brazil Great" were created, which distributed the free stickers in yellow-green colors, to be proudly displayed on the bumpers of many private cars. Opponents were polarized, many acknowledged such a measure, others don't want to recognize.