Brazil to Be Fiscally Responsible, Lula Says in Nod to Investors
- President-elect seeks to reassure investors on spending plans
- Lula to start working on the set up of his cabinet next week
Luiz Inacio Lula da Silva, Brazil's president-elect, during a meeting in Lisbon, Portugal, on Friday.
Photographer: Zed Jameson/BloombergThis article is for subscribers only.
Brazil will be fiscally prudent under the new government that takes office in January, President-Elect Luiz Inacio Lula da Silva said late Friday in a nod to investors after a week of heightened market volatility.
“I was already fiscally responsible,” Lula told reporters in Lisbon, referring to his two periods as president between 2003 and 2011. “Therefore there is no reason for that fear, there is no reason for the stock market to fluctuate like this.”