Lula calls for national unity and fiscal responsibility in national address

President Luiz Inácio Lula da Silva delivered his first national address since winning the October presidential election against Senator Flávio Bolsonaro. Speaking on radio and television at 20:30 on Sunday, November 8, Lula called for national unity and reconciliation after the runoff held on October 25. He thanked voters for more than 64 million votes and praised the participation of men, women, and young people, including elderly citizens who overcame mobility difficulties to cast their ballots.

Lula reaffirmed his commitment to fiscal responsibility and said public accounts must remain balanced to protect social policies and expand investment. He stated that the 2027 budget proposal had been sent to Congress with a primary surplus forecast. The president said no new fiscal adjustment measures would be announced in the speech.

“One of the main objectives of our government is to raise the country's investment to more than 20 percent of GDP in partnership with the private sector.”

The president acknowledged that the trajectory of public debt and high interest rates are a source of concern. He said the government intends to create conditions to reduce interest rates and raise investment to more than 20 percent of gross domestic product in partnership with the private sector.

Lula announced plans to address household and small business debt, including the purchase of bank debts and the forgiveness of federal government debts owed by microentrepreneurs. He also cited the income tax exemption for those earning up to 5,000 reais per month as an achievement of his administration.

On other priorities, Lula mentioned judicial reform, basic food basket tax exemption, public security, and education. He said he would send final measures of the current cycle to Congress before the end of the year and structure changes for the next government. He also criticized big tech companies for attempting to interfere in the Brazilian electoral process by amplifying disinformation and fake news.

The address followed a Thursday meeting at the Alvorada Palace with ministers and economists. Participants argued that fiscal balance should not be treated as incompatible with maintaining social policies.