Lula sends a message to the markets: "rooting against us"
The president criticized the financial market's pessimistic projections and highlighted GDP data, forecasting growth above 3%
247 - President Luiz Inácio Lula da Silva sent a direct message to the financial market on Wednesday (4), countering pessimistic GDP projections amid recent data confirming robust growth in the Brazilian economy. Lula stated that the market is "rooting against" the return to economic normalcy and the improvement in the population's quality of life, reaffirming his commitment to the country's social and economic progress.
"The 2024 GDP won’t be 1.5% as the market predicted; it will be over 3%. Gradually, we are returning to normalcy and improving the lives of Brazilians, despite those rooting against us," Lula wrote on the X platform.
Earlier, data released by the Brazilian Institute of Geography and Statistics (IBGE) showed that the Brazilian economy grew by 0.9% in the third quarter compared to the previous three months. Compared to the second quarter of 2023, GDP increased by 4.0%. For the year through September, Brazil accumulated a 3.3% growth compared to the same period in 2023.