Ultimately, the forecasts and polls were proven true. Having overcome the stumbling block of her failure to win in the first round, Dilma Rousseff, head of the Workers’ Party (PT) and protégé of outgoing president Luiz Inacio ‘Lula’ da Silva, defeated her rival Jose Serra of the Brazilian Social Democratic Party (PSBD) in the presidential elections of October 31. With her victory, Rousseff, a 62-year-old economist who graduated from the Federal University of Rio Grande do Sul state, becomes the first woman to occupy the presidency of her country, following 35 men who held that position in the country’s long history. In recent years, Brazil has gained a reputation for its spectacular economic management, supported by restrictive monetary and fiscal policy; the increase in the size of its middle class; the strength of its social planning; and its ability to attain ‘investment grade’ status.
Looking for more insights?
Sign up to stay informed about our latest article releases.