Economy

Demeter

(85,373 posts)

18. Rousseff pledges changes after narrow re-election win, markets fall

Mon Oct 27, 2014, 11:30 PM

Oct 2014

http://www.reuters.com/article/2014/10/28/us-brazil-election-idUSKCN0IE03L20141028?feedType=RSS&feedName=topNews

President Dilma Rousseff promised on Monday to make changes to her economic policies as she sought to build bridges with business leaders after narrowly winning re-election at the end of an acrimonious campaign.

Rousseff said in television interviews the changes would be announced next month after broad discussions with industrial and financial leaders, and that they would include reforming Brazil's onerous tax system.

"I will try to make the changes and reforms that the country needs," Rousseff said in an interview with TV Record. She also said she will soon pick a new finance minister but did not go into detail on the reforms or who she might choose.

Rousseff, 66, won a second term by a slim margin on Sunday, overcoming dissatisfaction with a sluggish economy and poor public services and dashing the hopes of investors who had bet on her centrist pro-business challenger, Aecio Neves.

The victory, driven by strong support among Brazil's poor, met with cold reality on Monday as Brazil's financial markets tumbled....

SO, SHE'S GOING TO BETRAY HER SUPPORTERS? NOT A SMART MOVE, M'AM.

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