Gary Hufbauer of the Peterson Institute for International Economics, a Washington-based think tank, said a central challenge for Bolsonaro will be curbing spending and entitlements, no easy task given the makeup of Congress and entrenched interests.
Backed massively by conservative sectors of Brazil, including Christian evangelical churches, Bolsonaro would block moves to legalise abortion beyond even the current limited exceptions and remove sex education from public schools, opposing what he calls "cultural Marxism" introduced by recent leftist governments.
"I will bring in politics completely different from that which brought corruption and inefficiency to Brazil", he said late Monday in an interview with Record TV. Mr Bolsonaro has indicated his intention to impose reforms immediately after taking office.
He has fuelled division across the country since the election campaign after he made numerous discriminatory and disrespectful comments about LGBTI people, black people and women.
But many citizens blame the Workers' Party for a devastating recession from which Brazil is only now emerging.
Bolsonaro has already said he will pull his country out of a United Nations global pact on migration, and he is considering whether to keep Brazil in the Paris climate accord.
Netanyahu is in Brazil with his wife, Sara, and their eldest son, Yair, to attend the inauguration of President-elect Jair Bolsonaro.
"I think they will be good on the economy and they will probably be bad for human rights and the environment", said Brian Winter, vice president for policy at the Americas Society and Council of the Americas in NY.
Environmentalists were aghast when Mr Bolsonaro announced that as part of his drive to streamline Brazil's government, he would merge the ministry of agriculture and that of the environment.
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"I can tell you that I meet with many Arab leaders", he said. She cast a blank ballot in the elections, saying she couldn't vote for the Workers' Party due to their involvement in corruption scandals.
"They invested in this as an opening campaign" in a future war, Netanyahu said, "and we destroyed it".
An estimated half-million spectators were expected to cheer Bolsonaro in Brasilia.
In foreign policy, Bolsonaro has signalled he plans major changes and that he may follow Trump's lead on some issues.
The new leader said in early November he meant to follow the lead of US President Donald Trump in moving his country's embassy from Tel Aviv to Jerusalem.
Secretary of State Mike Pompeo is representing the USA at the inauguration, and Prime Minister Benjamin Netanyahu is there for Israel.
But amid a backdrop of economic crisis, rising violence and corruption scandals that stained all of Brazil's main political parties, Bolsonaro cultivated an image as the outsider candidate and swept to victory in an election fuelled by anti-establishment sentiment.