Folha, in an editorial, says that Lula's recent speeches will bring greater gains for rentiers.
Newspaper predicts higher interest rates in the economy as a consequence of increased public spending.
247 - The newspaper Folha de S. Paulo published a harsh Editorial In light of recent statements by President-elect Luiz Inácio Lula da Silva, "President-elect Luiz Inácio Lula da Silva (PT) proposes increased inflation and interest rates, less employment and economic growth, more gains for rentiers. These would be the practical and probable effects of the PT's proposal for the unconditional expansion of public spending, finally presented to Congress on Wednesday (16). It is not just, as Lula says in a disdainful tone, about the rise of the dollar and the fall of the Stock Exchange," writes the editorialist.
"The draft constitutional amendment confirms the worst expectations sown since the outcome of the elections. The intention is not only to create space in the 2023 Budget for the preservation of social protection—which is fair and necessary—but also to establish a permanent exception to the already weakened limits on public spending," the text adds.
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