Brazil elections: Bolsonaro elected as president – Standard Chartered

Sandeep Kanihama FXStreet Contributor

Daniel Sinigaglia, Latam Economist at Standard Chartered, notes that Jair Bolsonaro (PSL – Social Liberal Party) is Brazil’s new president-elect and will take office on 1 January 2019 for a four-year term.

Key Quotes

“The result was widely expected, and had been confirmed by polls since the first-round vote. Bolsonaro won over 57.8mn votes, 55.2% of the valid votes, beating opponent Fernando Haddad (PT – Worker’s Party) by roughly 11mn votes.”

“Bolsonaro delivered a constructive victory speech soon after the official result was announced. He struck a pro-business tone, citing his determination to reduce the size of the state and the public deficit and to cut bureaucracy and regulations. He also stressed the importance private property and individual freedoms.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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