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Mr. Bolsonaro, the so-called "Trump of the Tropics", is a notoriously divisive figure, whose hardline approach has deeply divided Latin America's largest country.

Bolsonaro, who openly admires Brazil's former military dictatorship and shocked many with his derogatory remarks on women, LGBT people and people of color, remained vague about the environment during campaigning.

Bolsonaro has hired one of the top financial advisors in Brazil to craft his policies.

Together, these polices are a manifesto for violence and deforestation, and will hand the already powerful agribusiness lobby - the "Ruralistas" - a carte blanche to expand land grabbing at the expense of Brazil's most vulnerable people. "We won't have any more fights over this". "He has little experience if at all with macroeconomic issues of the size and importance that Brazil faces".

Paulo Guedes, whom Bolsonaro selected as a "super minister" with a portfolio combining the current ministries of finance, planning and development, has urged Congress to pass an initial version of pension reform before the January 1 inauguration.

Guedes, who is well-liked by the markets, will head it.

Mariscal, however, expects Brazil to continue to see growth as the market continues to price in good news.

Crude oil futures fall 0.31 per cent on weak global cues
But in the last month, forecasters have warned that oil demand will grow more slowly than anticipated in the coming months. Crude futures traded choppily on Wednesday, with Brent rising by $1 a barrel earlier in the session before retreating.

Far right-winger Jair Bolsonaro is politically a polar opposite of President Cyril Ramaphosa.

"The country is at war", he said late Monday, October 29, in his first interview as president-elect, vowing to lower the minimum age for firearm permits from 25 to 21 and eliminate red tape for gun ownership.

"They always accuse others of being what they are themselves", he said.

In interviews on Monday, Mr Bolsonaro also said: He would withdraw government advertising from media outlets he judged to be "lying"; He aimed to open up protected land to road and infrastructure projects; The budget deficit would be narrowed and state firms would be privatized.

Since it was launched in 2014, the sprawling probe has uncovered the large-scale looting of state oil company Petrobras, and landed a laundry list of corrupt politicians and business executives in jail.

In a statement, Moro said he would be "honored" by such an invitation, and added that it "would be the object of careful discussion and reflection". To comprehend this outcome and the path on which Brazil has put itself in electing Mr. Bolsonaro, it is important to remember the legacy of former President Luiz Inácio Lula da Silva, and his leftist Workers' Party.

The guilty verdict was upheld on appeal and Brazil's Supreme Court has rejected numerous requests to free the former president, universally known as Lula.