Published by Global Banking & Finance Review®
Posted on April 1, 2026
4 min readLast updated: April 2, 2026
Add as preferred source on GoogleRising polls have lifted Flávio Bolsonaro to a statistical tie with President Lula in second‑round simulations, freeing him to delay naming his economic team amid a banking fraud scandal and right‑wing field entering the race.
By Marcela Ayres, Luciana Magalhaes and Ricardo Brito
BRASILIA, April 1 (Reuters) - Rising public support for Brazilian opposition Senator Flavio Bolsonaro's presidential run has allowed him to put off naming key economic advisers, his aides say, even as right-wing rivals enter the field ahead of an October election.
Since announcing his candidacy last year, the senator has spent much of his time traveling overseas to meet conservative allies, or visiting with his father, ex-President Jair Bolsonaro, who is serving a sentence in Brasilia for a failed coup plot.
Yet the 44-year-old has risen to draw even with President Luiz Inacio Lula da Silva in opinion polls simulating a likely matchup, as the 80-year-old leftist leader grapples with a cooling economy and a banking scandal rattling Brasilia.
Two sources close to the senator said the momentum he has gained while signaling a platform broadly in line with his father's approach should give him more breathing room to draft advisers and craft proposals to cement a winning coalition.
If the trend continues, the rollout of his economic team, which had been slated for May, could be delayed further, one of the sources said. In December, when Bolsonaro was first scrambling to reassure business, an aide suggested he could present his economic program by February.
It is a sharp contrast with the 2018 campaign run by the elder Bolsonaro, then a backbench congressman, who tapped future Economy Minister Paulo Guedes as his all-purpose economic guru nearly a year before the election to assuage nervous investors.
Senator Bolsonaro's more cagey approach so far will face a fresh test as other right-wing parties launch their candidates. Brazil's Social Democratic Party this week tapped Ronaldo Caiado, governor of Goias state, and Minas Gerais Governor Romeu Zema is running for the Novo Party.
"It will be a turbulent campaign," said Carlos Melo, a political scientist at Insper in Sao Paulo, regarding the more crowded conservative field, while noting that the governors face long odds of overtaking Bolsonaro.
On Monday, Caiado made a direct appeal to supporters of Jair Bolsonaro by pledging a broad amnesty to those convicted for links to a 2023 coup plot, including the former president, who is now serving his sentence at home due to health issues.
Zema told Reuters he will leverage his executive track record in Minas Gerais and his clean record in a country plagued by corruption scandals to offer voters an alternative on the right, playing down the uphill climb he faces in early polls.
"All political campaigns are somewhat unpredictable," Zema said.
Flavio Bolsonaro, who was a Rio de Janeiro state lawmaker before his father's 2018 campaign helped him win a Senate seat, has offered few details of his economic proposals, promising to cut taxes and spending while improving the business environment.
His advisers said the momentum in the polls should help draw more interest from potential cabinet members.
Sources close to Bolsonaro said his campaign has made informal contact with potential advisers including former Treasury Secretary Mansueto Almeida, now at BTG Pactual, and former central bank governor Roberto Campos Neto, now vice chairman at digital bank Nubank.
Both worked in the 2019-2022 Bolsonaro administration.
At a conference in Boston over the weekend, Almeida said he remains in the private sector and has not been approached by any candidate. Campos Neto did not respond to a request for comment.
(Reporting by Marcela Ayres and Ricardo Brito in Brasilia, Luciana Magalhaes in Sao PauloEditing by Brad Haynes and Alistair Bell)
Rising public support in opinion polls has given Flavio Bolsonaro more time to draft advisers and develop his economic proposals.
Unlike his father, who announced a key economic adviser early, Flavio Bolsonaro is being more reserved and has yet to name his team.
Potential advisers include former Treasury Secretary Mansueto Almeida and former central bank governor Roberto Campos Neto.
He has promised to cut taxes and spending while improving the business environment, but details remain limited.
Brazil's Social Democratic Party nominated Ronaldo Caiado, governor of Goias, and Romeu Zema is running for the Novo Party.
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