President criticized journalists and stated that the American currency had risen 15 minutes before his statements in an interview on Wednesday
The president Luiz Inácio Lula da Silva (PT) called this Thursday (June 27, 2024) “idiots” who held him responsible for the increase in the dollar after statements made in an interview on Wednesday (June 26, 2024). In an irritated tone, he said that anyone who bets on derivatives or the strengthening of the American currency against the real “will lose”.
“Look what happened yesterday. When I finished the interview, the headline of some comments was that the dollar rose due to Lula’s interview. These idiots didn’t realize that the dollar had risen 15 minutes before I gave the interview. 15 minutes earlier”, he said during his speech at the opening of the 3rd meeting of the Council for Sustainable Economic and Social Development, known as the Council. The meeting is held at Itamaraty and brings together 250 advisors.
On Wednesday, the price of the American currency reached R$5.52 at 10:30 am, an increase of 1.13%, while the president gave an interview to the portal UOL. The dollar maintained its level at market close, the highest value since R$5.56 reached on January 18, 2022.
During his speech, Lula criticized financial market speculation and said that anyone who bets on making money with derivatives “will lose money”.
“This perverse world of people putting out what they want, without taking responsibility for what will happen, is very bad. I wanted, [Fernando] Haddad, tell you, you can be sure: anyone who bets on derivatives will lose money in this country. The people who bet on making money on the strengthening of the dollar will be broke again”, he said.
Lula was strongly applauded by his advisors when he said that he became president again because “I’m aware that it’s going to work.”
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Council
During the opening of the event, 9 counselors spoke. They handed Lula documents from each group and thematic commission with the results of the discussions and public policy proposals. They defended a reduction in interest rates and investments in the productive sector, a focus on the education of early childhood children and the fight against hunger.
The president of CNI (National Confederation of Industry), Ricardo Alban, stated that the country is undergoing a contractionary interest rate policy and said that the debate on the subject should be about the reasons why the current Selic rate is at 10.5% and not whether it should be reduced.
Alban defended the convergent work between the private and public sectors and said that care must be taken not to create a “abyss” between consumption and supply capacity.
“We are creating a bubble or perhaps something more delicate, an abyss between consumption and supply capacity. We are inhibiting the supply capacity and, in a very short term, we will have a serious problem of inflationary pressure due to the total incapacity of the productive sector”, he said. Alban also stated that the productive sectors and the government need to work convergently to achieve fiscal balance.
The vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin, said that Brazil has 2 main challenges: increasing investments and the country’s productivity. He also said that the Council is important for the government to “listen to society”.
“Organized civil society makes a difference, a government that listens and talks gets more things right and brings more results for our population”, he said.
The Minister of Culture, Margareth Menezes, indirectly criticized the government of former president Jair Bolsonaro (PL), which abolished the Ministry of Culture. It was recreated under the current PT administration. “While they were passing the cattle, we are passing education, health, life transformation”, he said.
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