Economic growth in 2024 likely to beat expectations, Lula believes
Brazilian President Luiz Inácio Lula da Silva said on Tuesday morning (Apr. 23) that the economy is likely to grow more than experts have predicted so far.
“The economy in 2024 will grow more than all the economic analysts have said so far, all of them. And it will grow because things are happening in Brazil.”
During a breakfast with journalists at the Planalto presidential palace in Brasília, he invited the press to study what has been happening in the country over the last 14 months under his administration.
“You’ll notice that never before in Brazil’s history have so many social inclusion policies been put into practice—some of which we had already implemented but disappeared and are now coming back,” he declared.
Spending and investment
President Lula also said the announcement made Monday (Apr. 22) on easier credit and debt negotiation for small business owners was the latest major move aimed at getting Brazil ready for growth. “We’ve sown the soil, planted the seed. We’ve fertilized and covered the soil. We’re watering now. It’s time to harvest.”
He believes the country is going through a good period. As president, he feels “extremely satisfied.” He argued, however, that investments made in the country are all too often seen as mere spending, adding that investments in education—and the resulting qualified workforce—coupled with a solid credit offer, can make a country grow.
“The problem is that everything in Brazil is treated as an expense. Lending money to the poor is spending, putting money into health care is spending, putting money into education is spending, putting money into anything is spending. The only thing that isn’t spent is the primary surplus. It seems that the only thing that’s treated as investment is that. What is spending? I always struggle with this, because sometimes in Brazil we discuss quite secondary things,” he said.
Credibility overseas
President Lula also highlighted the gradual recovery of vehicle production in Brazil and the inauguration of factories. Investments in the country are returning, he pointed out, especially following the latest announcements in the automobile industry. In his view, Brazil has regained confidence in the international market.
“What has happened is that all the companies have announced a lot of investment [in the country], showing that Brazil currently enjoys an external credibility we didn’t have during my first two terms in office. Our return and the guarantee of the democratic process in this country have brought about extraordinary expectations.”
