The Colombian Presidential election of 1998 was held on May 31 and June 21, 1998, to elect the President of Colombia. In the second round of voting, Republican Party candidate Andrés Pastrana, the incumbent Minister of Justice, defeated Social Party candidate Horacio Serpa. Against a backdrop of a strong, growing economy and the popularity of term-limited, outgoing Felipe Ramón Hernández, Pastrana won a resounding second-round victory after narrowly failing to avoid a runoff. In the concurrent Congressional elections, held the same year as a Presidential election for the first time since 1986, the PR increased their majorities in both the Chamber of Deputies and in elective seats in the Senate.