Lula tells business leaders to choose democracy over barbarism, vows judicial reform

President Luiz Inácio Lula da Silva addressed more than 700 business leaders in São Paulo nine days before the election, framing the vote as a choice between democratic rule and barbarism. He defended his record on fiscal responsibility while insisting social investment must accompany budget discipline.

Lula pledged to pursue a new judicial reform and a "true political reform" in a potential fourth term, arguing that Congress cannot control half the federal budget. He noted his administration created the National Council of Justice (CNJ) during his first presidency.

“We have to choose between the democratic regime or barbarism”

The president rejected pressure to lower the 13.75% interest rate, reminding the audience that business groups had advocated for central bank independence. He also criticized U.S. President Donald Trump for alleged interference in Latin America.

Lula attacked former banker Daniel Vorcaro, calling him a "malandro" who corrupted institutions with money and orgies. He also insisted that rare-earth minerals must be mined, processed, and sold under Brazilian command rather than exported raw.

The event was organized by Esfera Brasil, CNBC Parlatório, and the Prerrogativas lawyers' group. Attendees included executives from JBS, Vale, Brookfield, Petz, Centauro, iFood, and Uber.