For a long time, it looked as if the trajectory of the slowing Brazilian economy would stay in positive territory until after presidential elections in October, which could see incumbent Dilma Rousseff re-elected. However, a quicker than expected deterioration in the economy and – not unconnected – Rousseff’s poll ratings have changed everything.
The death of the third party candidate, Eduardo Campos, has propelled a credible, nationally recognized contender, Marina Silva, into the campaign. Silva’s anti-establishment and leftist credentials are taking swathes of voters away from Rousseff, who looks certain to face the unpredictable fate of a run-off election.
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| • Ferraz defends BNDES role |
Economists are calling a technical recession for the first half of 2014: the first quarter’s GDP growth was revised down to -0.1%
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