Who is Aecio Neves?

In the first round of Brazil's presidential election, current President Dilma Rousseff emerged as the front-runner with 41.4 percent of the vote. Yet, the second place surprised many as Aecio Neves - a senator from the state of Minas Gerais, ousted Marina Silva - an environmental leader, with 33.7 percent of the vote.

Who is Aecio Neves?
Mr. Neves, a 54-year-old economist, is the president of the Brazilian Social Democratic Party (PSDB), also known as Tucans and a well-known name in Brazil. From 2003 to 2010 he was the Governor of Minas Gerais and since 2010 he is a senator. The former president Fernando Henrique Cardoso supports his candidacy.

Neves’s strategy is considered pro-business. It focuses on reducing inflation, straightening government budget surplus and on keeping more flexible exchange rate. He emphasises any changes would be gradual and without huge sacrifices.

Aecio stands for:
  • Bringing inflation to the 4.5 percent target in two or three years
  • Allowing the real to fluctuate according to the markets and without any intervention
  • Allowing the Central Bank to be more independent;
  • Creating a national and unique Value Added Tax (VAT) to simplify the national tax system;
  • Reaching a primary government surplus to reduce public debt
  • Increasing investment to 24 percent of the GDP (16.5 percent nowadays) by focusing on development of public-private partnerships and micro and small businesses. 
  • Shifting economic cooperation with Mercosur to other countries outside South America

Who is Aecio Neves?

Carolina Cunha | Carolina.Cunha@tradingeconomics.com
10/7/2014 12:32:27 AM