The elected president of Brazil, Luiz Inácio Lula da Silva, stated Thursday that he will not privatize the state-owned Banco do Brasil, the largest financial institution in Latin America, nor will he divide the national oil company Petrobras.
At an event with parliamentarians from allied parties in Brasilia, Lula reiterated his campaign commitment that he will not privatize the main state companies, as his rival in the elections, the current president Jair Bolsonaro, intended to do.
«I want to tell you that Brazilian public companies will be respected. Petrobras will not be divided. I want to say that the Bank of Brazil will not be privatized nor will the Caja Económica,” he said.
He added that the National Bank for Economic and Social Development (BNDES) or the Banco del Noreste will once again be investment banks, “even for small and medium-sized entrepreneurs.”
In his speech, Lula questioned that Brazil has a target for inflation but not for economic growth, and reiterated that the country needs to spend more on health and education, something that, in his opinion, will make it grow.
The president-elect also stated that the president of the republic must have credibility and behave in such a way that when he says something, society understands that it is something serious, in clear reference to Bolsonaro.
“Only the State can make the decisions that can guarantee political stability, economic stability, legal stability and social stability,” Lula concluded.
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