Inflation, stagnant growth big issue in Brazil’s election

Global Business

After three years of stagnant economic growth, inflation will be an important issue for Brazil’s presidential election this Sunday. CCTV America’s Stephen Gibbs reports.

Inflation in Brazil is currently near 6.5 percent, which is the maximum rate set by the country’s central bank.

The government argues that is has managed to keep inflation within its target range, but critics say that is not good enough given that the economy is technically in recession.

Official figures released in August revealed that Brazil’s growth, which is partly driven by consumer spending, had slipped into negative territory.

The government blames the world economic downturn, while others blame the government.

One indicator that looks positive for the government is unemployment, which remains at a near historic low of less than five percent.

The coming election will determine whether this is enough to secure President Dilma Rousseff’s re-election, or if the trained economist will be blamed by voters for the stagnant state of Brazil’s economy.

Inflation, stagnant growth big issue in Brazil's election

Inflation, stagnant growth big issue in Brazil's election

After three years of stagnant economic growth, inflation will be an important issue for Brazil's presidential election this Sunday. CCTV America's Stephen Gibbs reports.

The two main candidates, Rousseff and environmentalist Marina Silva, have taken part in another televised debate. The latest polls suggest that there will be a runoff election in late October.

Silva responded to questions about the extent of her commitment to social spending programs, and Rousseff responded to allegations that her administration has not been hard enough on political corruption.

The final presidential debate takes place Thursday.

Brazilian presidential debate shows more support for Rousseff

Brazilian presidential debate shows more support for Rousseff

After three years of stagnant economic growth, inflation will be an important issue for Brazil's presidential election this Sunday. CCTV America's Stephen Gibbs reports.