President between 1995 and 2002 is no longer active in public life, but his legacy persists; party youth analyze contradictions in their government
Former president Fernando Henrique Cardoso (1995-2002) turned 95 on Thursday (June 18, 2026). More than two decades after leaving Planalto, he remains one of the central figures in Brazil’s recent history — even for Brazilians who weren’t even born when he took office.
Admirers often attribute to his government the modernization of the Brazilian economy and the creation of the bases that allowed the expansion of social policies in the following years. Critics cite the persistence of inequalities and what they see as the negative effects of liberal reforms.
His party, the PSDB (Brazilian Social Democracy Party), is today tiny compared to its importance in the 1990s. The party had the 2nd largest bench in the Chamber of Deputies in 1998, with 99 seats. 24 years later, in the 2022 election, the PSDB elected only 13 deputies, leaving it with the 10th largest bench.
The vacant space was occupied by other center-right and right-wing parties, in particular the PL (Liberal Party), which elected the largest group in 2022 (99 deputies) and is the party of the pre-candidate for the Presidency 2nd place in electoral polls.
On the center-left and on the left, the PT (Workers’ Parties), FHC’s historic opposition, remains the largest party. Elected the 2nd largest bench in 2022 (67 deputies) and has the president pre-candidate for re-election, leading the polls for Planalto.
O Poder360 asked young party leaders from PT, PL and PSDB to point out what they see as the positive and negative points of the FHC government.
PT cites reorganization of the economy and buying votes
28 years old, national president of PT Youth, characterized FHC’s administrations as “marked by contradictions”.
He pointed out advances in the reorganization of the economy through the Real Plan, which put an end to hyperinflation, but disapproved of what he called the adoption of a “more neoliberal economic model, with privatizations and a very strong presence of market logic in the conduct of the State”.
The liberal agenda in the economy guided the FHC years. The former president always denied the nickname “neoliberal”, considering a model in which there is “lack of rules”.
His defense of fiscal responsibility and the privatizations carried out in sectors such as telecommunications and energy motivated the “cursed legacy”, a term used by the PT governments that succeeded him to refer to his administration.
Köpf mentioned education policies as positive, such as the creation of the FIES (Student Financing Fund), a credit program for low-income students, and the Enem (National Secondary Education Examination), the gateway to Brazilian higher education.
The measures in education, later expanded under the PT governments, are indicated by supporters as important in the democratization of education in Brazil.
Köpf criticized the “very large dependence on the international market” during the toucan government, which took place during the expansion of globalization, and which ended up benefiting the former president and others who were in office at the time.
The scheme ended up not being legally affected by FHC, who always denied participation. The then Attorney General of the Republic, Geraldo Brindeiro, rejected requests for a complaint against the president to be presented to the Federal Supreme Court.
In 2020, FHC made a “my fault” about re-election and said that the decision “aggravates” the abuse of power.
PL celebrates Plano Real and criticizes “welfare” policies
Evandro Araújo, 32 years old, president of PL Jovem in the Federal District, highlighted FHC’s action while Minister of Finance to create the new currency, the real. “Helped bring economic predictability to the country, controlling inflation”, these.
Until June 1994, on the eve of the launch of the Real Plan, annualized inflation had been 4,922%, the Central Bank. At the end of 1995, the year after the measure was introduced, the rate reached 22%. Since then, the 12-month cumulative index has rarely exceeded 9%.
But Araújo criticized what he considers a left turn by the former president. For the PL politician, the negative point would be some programs created during the FHC administration, which he considered “welfare“. He stated that many projects “were transformed into political currency, electoral”.
Criticism is common on the right. Programs such as Bolsa Escola and Auxílio Gás, created during the FHC government, were later incorporated into Bolsa Família, a frequent target of members of this political spectrum.
Even so, the program was defended by Flávio Bolsonaro, who spoke of extending the period that beneficiaries continue to receive aid after obtaining formal employment or opening their own company.
Bolsa Família was inflated during the last year of the Jair Bolsonaro (PL) administration, Flávio’s father. Before the mandate began in December 2018, there were 14.1 million families receiving money from the program. When Bolsonaro left the Presidency, there were 21.6 million.
PSDB praises privatizations, but sees “lack of connection” with the people
Vinícius Leão, 28 years old, vice-president of Youth PSDB, said that “Since the FHC government, we haven’t seen Brazil discussing things that will really change people’s lives, such as the economy and social policy”.
Leão listed as positive factors of Tucana’s management the privatizations carried out, the Real Plan, and the launch of programs, such as generic medicine, created under the leadership of the then Minister of Health, (PSDB), and sanctioned by FHC.
Fiscal responsibility and the new economic plan led to predictability regarding product prices and a reduction in poverty in the short term. Critics point out, however, that currency stability came unaccompanied by constant growth and the end of inequality.
For Leão, the error of FHC’s administration was “the non-message to the population, the non-connection with people, for them to recognize this”. According to Leão, this “It was one of the reasons the PSDB never returned to government”.
“An intellectual in politics”
A sociologist by training, FHC had extensive work in opposing the military government and, later, in the country’s redemocratization. Co-founded the PSDB. With Alzheimer’s, the former president no longer works in public life.
During his government, the Ministry of Defense and Anvisa (National Health Surveillance Agency) were created and the human rights violations committed during the dictatorship were recognized.
After the Presidency, he actively participated in the social debate. “An intellectual in politics”, as the title of his memoir, published in 2021, says.
the candidacy of Lula, his long-time political opponent, against (PL) in the 2nd round of the 2022 elections. FHC declared his vote for a “history of struggle for democracy and social inclusion” by the PT member.
For Sergio Fausto, general director of the FHC Foundation, after the “political passions” from his time in government, the former president’s administration will be remembered with a “feeling of respect”.
“He was a democrat, from the beginning of his intellectual and political life until he ended his activities. In the way of being, in the way of treating people, in the interest for others, in the respect for the other’s point of view, in the way in which he led the Brazilian State”, said Fausto.
