76-Year-Old Former President Summoned by Past 'Memory of Prosperity'
Legislative Power Close to Current President's 'Trump-Style Far Right'
Economic Recession and Inflation Improvement Unlikely Soon
[Asia Economy Beijing=Special Correspondent Kim Hyun-jung] On the 2nd (local time), in the Brazilian presidential election, former President Luis Inacio Lula da Silva surpassed President Jair Bolsonaro to take first place, but since he did not secure a majority of the votes, a runoff election between the two candidates will be held on the 30th. Major foreign media outlets evaluated this as the 'memory of Brazil's economic prosperity' during the 2000s, when Lula was in power, overcoming the incumbent president and recalling him despite being involved in corruption allegations.
With 98% of the votes counted, former President Lula secured first place with 48.0% of the vote. His competitor, President Bolsonaro, recorded 43.6% of the vote. Bolsonaro maintained the lead until just before 70% of the votes were counted but began to fall behind Lula in the later stages of counting. The remaining nine candidates collectively garnered around 8% of the vote. Since President Lula did not achieve a majority in the first round, the two candidates will proceed to a second-round runoff election on the 30th.
Depending on the election results, the 76-year-old former President Lula's chances of returning to power have increased. Lula previously served as Brazil's president from 2003 to 2010.
However, the vote margin between the two is not large, and with about four weeks remaining until the second runoff, the outcome cannot be easily predicted. The 67-year-old incumbent president can attempt to extend his term through additional campaigning during these four weeks. The fact that Brazil is currently suffering from high inflation and economic recession is expected to work against President Bolsonaro. Both candidates have pledged to expand public support to address the rapid rise in prices.
Even if Lula wins the second runoff, it seems difficult for him to seize power quickly. Bolsonaro-supporting candidates hold a majority in the legislature, and his allies have won gubernatorial elections in at least nine states. Carlos Melo, a professor at Insper University in S?o Paulo, explained, "What is certain is that the far right is extremely strong," adding, "Bolsonaro will advance to the second round from a strong position." President Bolsonaro has been regarded as a nationalist modeled after former U.S. President Donald Trump.
Foreign media also noted that former President Lula will have to govern a Brazil that is 'completely different' from his previous two presidential terms. Unlike the past, when Brazil enjoyed record economic growth fueled by a commodity boom, the country now suffers from political polarization and inflation exceeding 8.7% annually. The hunger problem has also increased to unprecedented levels over the past decade. Bloomberg News predicted that if Lula succeeds in winning a third term, he will be a 'softer Lula' compared to the past.
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