brasilia.- The elected president of Brazil, Luiz Inacio Lula da Silvawas moved this Thursday when he affirmed that he “never” thought that hunger would return to the country and affirmed that his “mission will be accomplished” if “every citizen returns to breakfast, lunch and dinner” every day.
“Excuse me,” he said, interrupting his speech at a meeting with parliamentarians with the tear filled eyesand remember that this promise that all Brazilians can eat every day was made two decades ago, on January 1, 2003, when he took power for the first time.
“We promised it and we kept it”, but “we never imagined that hunger would return” and that it would affect, as is happening today, some 33 million Braziliansdeclared Lula, who defeated the current president in the elections held on October 30, Jair Bolsonaro.
According to the president-elect, the country has returned to that situation “due to the lack of commitment” of rulers such as the leader of the extreme right, who “never cared” about the poorest.
“People have been made to suffer in order to guarantee such fiscal stability”, by “people who say all day long that expenses must be cut” and “leave poor people out of the discussion about macroeconomy“, he declared.
He also assured that the government that will begin on January 1 will be guided by “credibility, political, economic, legal and social stability” and “predictability, since society cannot be taken by surprise.”
He also guaranteed that, economically, he will maintain the same parameters of “fiscal responsibility” that he had while in power between 2003 and 2010, and insisted that “he will govern for all”, but that he will take care of “priority those most in need”.
As promised in his campaign, he stressed that it is also necessary to “discuss the world of work” and review a tough reform of labor laws approved in 2017which ended a series of rights and guarantees that protected workers.
“Today we have millions who work like slaves, without any guarantee or forecast for the future”, so it is “imperative” that “capital and labor in the 21st century” be “discussed”, without “abdicating the rights that give security to the humblest worker,” he said.
Stock market plummets 3.35% after speech
The Sao Paulo Stock Exchange plummeted 3.35% and its Ibovespa index stood at 109,775 points, after the uncertainty generated by the president-elect, Luiz Inácio Lula da Silva, about the fiscal policy of the next government.
In the foreign exchange market, the dollar shot up 4.10% and was sold at 5,393 reais for purchase and 5,394 reais for sale at the commercial exchange rate.
Investors today reacted badly to the speech made by Lula, who criticized the rules that limit public spending in the country and the reform of the pension system approved during the government of President Jair Bolsonaro.
“Why are people forced to suffer to guarantee such fiscal responsibility?” Lula questioned during a speech in which he pointed out that will increase spending during his government.
At its low of the day, the indicator fell 4.46% and in the end it fell below the symbolic bar of 110,000 units.
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The market also did not digest well the appointment of Guido Mantega, Lula’s former minister and his successor, Dilma Rousseff, as one of the coordinators of the transition team.
On the stock index also weighed the data of inflation.
Despite the relaxation of inflation in year-on-year terms (6.47%), in October prices rose 0.59% compared to the previous month, interrupting a three-month downward streak, according to data released by the Government .
In the midst of this scenario, the shares of the state-owned companies closed with widespread losses, including the preferential ones of the oil company Petrobras, which fell by X and were the most traded by investors.
The losses, however, were led by the preferred shares of the airline Azul (-17.83%).
During the day, 55 thousand 191 million reais (about 10 thousand 231 million dollars) were traded, a daily volume higher than usual due to the expiration of stock option contracts and the product of almost 7.5 million financial transactions.
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