Lula: the country's salvation was domestic consumption.
The former president recalls the rise of 40 million Brazilians to the so-called new middle class during his administration and emphasizes that when he took office, the country had only R$ 380 billion in credit available to the market – today that number has risen to R$ 2 trillion.
247 – With the Selic rate about to be readjusted in yet another attempt by the government to control inflation and keep Brazil on the path to growth, former President Luiz Inácio Lula da Silva recalled this Tuesday that during his administration "the salvation of the country" was domestic consumption.
"From time to time, I see people saying that Brazil needs to export more, that it shouldn't be focused on the domestic market. The salvation of this country was the domestic market," he stated during a speech commemorating the 90th anniversary of the Union of Bank and Finance Workers of São Paulo, Osasco and Region.
Lula also recalled the rise of 40 million Brazilians to the so-called new middle class and stressed that when he took office, the country had only R$ 380 billion in credit available to the market, and that today there is already R$ 2 trillion for the domestic market.