Ronaldo Caiado concedes presidential election defeat

Ronaldo Caiado, the former governor of Goiás and presidential candidate for the Social Democratic Party (PSD), has conceded defeat in the first round of the presidential election. With 92.27% of votes tallied, Caiado received 2.24%, totaling 2,456,738 votes, finishing in fifth place.

During a press conference in Goiânia, Caiado described the campaign as “atypical” and criticized the lack of debates. He expressed concerns regarding a “grave institutional crisis” and criticized high interest rates, comparing them to “usury rates.” He stated he would determine his next steps after consulting with PSD president Gilberto Kassab.

The PSD released a statement praising Caiado’s campaign, describing it as “propositive” and noting that he avoided the “extremisms” seen in recent elections. The party indicated that its state directories and members will have the freedom to decide which candidate to support in the second round between Luiz Inácio Lula da Silva and Flávio Bolsonaro.