Unexpected Runoff: Rousseff vs. Neves

Official results, as of 7:01 p.m. ET, Brasil’s presidential election is forced into a runoff between: Rousseff and Neves.

According to CNN,

Preliminary election results from Brazil show President Dilma Rousseff in the lead. With nearly 88% of votes counted, Rousseff had 40.68% of votes, Brazil’s Supreme Electoral Court said. Aecio Neves was in second place with 34.71%. And Marina Silva was in third place with 20.99%. If no candidate wins more than 50% of votes, there will be a runoff between the top two candidates.”

Today, as voting was obligatory for all Brasilian citizens, the expected runoff to be between Rouseff and Silva, has taken an unexpected turn. Silva has been outvoted by Neves. Neves’s campaign coordinator José Agripino Máia said prior to results flowing in,

Going into the second round, the PSDB [Brasilian Social Democrat Party] will get in touch with the PSB [Brasilian Socialist Party], but no channel of communication has been opened about this issue. We intend to get to the second round.”

And so Neves had made it to the second round. Neves had been attacking Silva for weeks, saying she was inexperienced and “prone to flip-flops,” however the two had very similar economic plans for the country. Those economic policies being greater support for Central Bank autonomy and implementing new monetary policy.

Rousseff, although recently condemned for a faltering economy, is still being shown favoritism within the nation from voting polls. According to CNN,

She democratized Brazil’s electricity sector through the “Luz Para Todos” (Light for All) program, which made electricity widely available, even in rural areas.”

Rousseff also defends governmental spending, saying that the majority of funds went toward infrastructure projects and not toward the 2014 FIFA World Cup. She also claims that because of her and former President Lula da Silva’s work, a mass amount of Brasilians have come out of poverty.

From a social standpoint, Rousseff is “pro-life” in consideration to abortion as she told Aparecida TV, a Catholic network. However, under her administration Civil Union for gays has been legalized, as she has pledged to fight for gay rights.

If Rousseff wins, will things really be different? Alberto Ramos, Senior Latin America Economist at Goldman Sachs states, that yes,

there is this perception that the economy is trapped in a poor equilibrium of low growth, high inflation and an un-competative economy, a misaligned exchange rate, excessive activism on the fiscal front through the budget, quasi-fiscal through the public banks…bottom-line, the economy is showing significant macro-imbalances…it is hard to imagine that investment will pick up until we sort out those imbalances.”

Ramos, does says though that things will definitely different after this election. Whether Rousseff or Neves, there will be great problems to be tackled for the next president in order to realign Brasil for the international market and as well as for internal development.

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