Lula complains about the interest rate and the market’s serious lack of social commitment

President Luiz Inácio Lula da Silva once again questioned the country’s basic interest rate this Thursday and complained that no one addresses the issue of social debt, but is suspicious when it comes to investments in this sector.

“How do you explain an interest rate of 13.5%?”, he asked, speaking at a meeting with the presidents of universities and federal institutes at Palazzo Planalto. The Selic rate, in fact, is currently at 13.75% per annum.

Lula also said that the state must reach out to the poorest and that it can be the regulator of the country’s social debt.

Already on Wednesday, Lula complained about the country’s high interest rate, saying that the independent central bank does no more now than when the president of the institution was changed every time a new government took office.

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.