Leading up to the 1994 general elections, Lula was the leading presidential candidate in the majority of polls. As a result, centrist and right-wing parties openly united for Fernando Henrique Cardoso's candidacy. As Minister of Economy, Cardoso created the Real Plan, which established the new currency and subsequently ended inflation and provided economic stability. As a result, Cardoso won the election in the first round with 54% of the votes. However, it has been noted that "the elections were not a complete disaster for PT, which significantly increased its presence in the Congress and elected for the first time two state governors". Cardoso would be re-elected in 1998.