EPCA '10: Brazil economy stays on track despite run-off vote

04 October 2010 10:54  [Source: ICIS news]

BUDAPEST (ICIS)--Brazil's economy will not be deflected from its robust course by the failure of presidential candidate Dilma Rousseff to win the outright election victory that had been expected until a week or so ago, a Brazilian industry source said on Monday.

Rousseff won 47% of the vote in Sunday's election, falling short of the majority needed to avoid a run-off poll that will be held on 31 October.

Rousseff is the political successor to incumbent Luiz Inacio Lula da Silva, a popular leader who has charted a more centrist course than his leftist roots suggested.

The fact that Rousseff did not win in a number of key states points to her likewise sticking more to the centre of the political spectrum, the industry source said

That would help sustain the optimism in the Brazilian economy, he said on the sidelines of the European Petrochemical Association (EPCA) meeting in Budapest.

The positive business sentiment is being fuelled in part by the investment boost associated with Brazil hosting the soccer World Cup in 2014 and the Olympic Games in 2016, the source said.

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By: Stephen Burns
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