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Lula praises Haddad and says the market sees that the country has “stopped playing”, after criticism of the zero deficit

In a social media broadcast, Haddad said that 7 million Brazilians have already paid off their debts with the Desenrola program

BRASÍLIA – After having discredited the fiscal objective zero, the president Luiz Inácio Lula da Silva praised the Minister of Finance, Fernando Haddad. According to him, with the work of the minister at the helm of the department, the market understands that the government “has stopped joking”.

“The seriousness that Comrade Haddad has given to the Ministry of Finance means that we are gaining internal and external credibility and that the market is realizing that this country is no longer joking,” he said in a weekly live broadcast on social media, called “Conversation with the President”, this Tuesday 21st, in the presence of Haddad.

The speech comes days after the president said he did not believe in the zero-tax goal championed by Haddad. After disagreements within the government on the issue, last week the Lula 3 administration ruled out the possibility of modifying the objective of eliminating the public finance deficit in 2024 at this time, as envisaged by the fiscal framework.

The President stated that the policies implemented this year, after the administration of the former President Jair Bolsonaro“Will they flower very strongly in early 2024?”, which will meet at the end of the Government’s assessment year.

According to the president, if the program Unroll Brazil, of refinancing private debt, is successful, “we have solved a crucial problem for society”. “We will nominate the team for the Nobel Prize in economics,” she joked.

As for Desenrola, Fernando Haddad said on the broadcast that the federal government is concerned about the “novelty” of the program. According to the minister, to date, 7 million Brazilians have managed to pay off their debts thanks to the program.

“We are all very worried about this news, nothing like this has ever been attempted,” said the minister, together with President Luiz Inácio Lula da Silva. “It was courageous of President Lula to include it in the government program and there was no technology, it was developed during the first semester.”

Haddad pointed out that the average discount at Desenrola is 83% and in some cases can reach 99%. According to him, of the total debts of R$100, R$10 million have been written off. “All in all, 7 million Brazilians,” he calculated. “The potential of the program, theoretically, can reach R$30 billion.”

“The big advantage is that when you agree to pay the debt, your name is clear,” commented the minister. Regarding the new phase of the program, Haddad said that since the debt is larger and the discount is high, the discounted amount in reais will be much higher.

Lula said the government wants banks to allow Brazilians to have “a friend to relax with” in their branches. According to the director of Desenrola, in addition to attention to people, Desenrola also thinks about the development of the economy. “When everyone starts buying, things start to get better.”

Congressional support

In the broadcast, Haddad stated that the government has the support of the National Congress in approving economic agendas. The minister acknowledged, however, that support from the legislature will come “in due course.”

“We have the support of Congress, Congress supported the economic measures at the time, because it is not easy to digest what we are doing”, declared the minister. “You have to understand, know, those who don’t pay have to start paying, the rich people who didn’t pay taxes have to start paying.”

According to the minister’s assessment, with the support of the judiciary and the legislature, President Lula managed to convey a “message of trust and reliability”. “(Lula) ends this year on a positive note,” he commented, adding: “Do we see the stock market hitting a record, interest rates falling, the unemployment rate the lowest since 2016?” “The world looks to Brazil with confidence.”

Source: Terra

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