Brazil Elections Highlight Economic Challenges

President Dilma Rousseff won the first round of the Brazilian presidential election, but Aecio Neves doing far better than expected as attention now shifts to the run-off on October 26

Ashmore Group 6 October, 2014 | 4:14PM

Aecio Neves, from the centre-right PSDB party, did far better than expected and will now face President Dilma Rousseff in a run-off for the job of president on 26 October. Neves polled 33.8% versus Dilma’s 41.4%.

Marina Silva faded to 21.3% - the same she polled in the previous election. The focus will now be on who Marina supports or does not support in the run-off. Neves polled significantly better than predicted in the polls, suggesting that he now has strong momentum.

He also has funds to finance a strong campaign. The market is likely to be warmly disposed toward Neves, who has already appointed Armenio Fraga, a credible former head of the central bank, as its future finance minister.

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About Author

Ashmore Group  is a specialist Emerging Markets investment manager with more than twenty years' experience in these markets

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