Lula Hails Finance Minister As a Calming Agent to the Markets

Brazil’s President Luiz Inácio Lula da Silva once again declared that Minister of Finance, Antonio Palocci, will remain on the job. The declaration came Thursday, November 24, during an interview with Brazilian radio stations.

"Palocci is extremely important for Brazil at this moment, both politically and economically speaking. He was my choice for minister of Finance, and he continues to be my minister of Finance," said the president.

Lula went on to say that Palocci is a person who knows how to calculate his actions so that they transmit tranquility to the markets and investors.

"Palocci is a man with a level of competence that is above average for Brazilian ministers of Finance," said Lula.

One of the reasons for keeping Palocci at Finance is the way jobs are being created in Brazil, said Lula. He cited numbers showing that employment was at its best in 25 years.

Lula pointed out that after falling employment for over 20 years (1980 to 2002), a total of 3.6 million new jobs have been created in the last 35 months.

Lula pointed to the auto industry, which reduced its workforce by 1.5 million in the last 20 years, but has added 300,000 jobs since he took office in 2003.

Agência Brasil

Tags:

You May Also Like

World Social Forum Back in Brazil and Ready for Change

Representatives of the Organizing Committee of the World Social Forum (WSF) met yesterday, November ...

Blindfolded

Brazil’s international trade policies and strategies must improve dramatically, especially where high-tech, big ticket ...

Only Education Can Bring Brazil Out of Its Backwardness

At the recent Pan American Games, the world saw the flag of Brazil raised ...

Cardoso, Brazil’s Neoliberal Marxist

Fernando Henrique Cardoso – founder of the Brazilian Social Democratic Party (PSDB), former two-term ...

Machinery Exports Grow 7% in Brazil, But Trade Balance Is Negative

In Brazil, foreign sales correspond to 40% of the machinery and equipment sector’s revenues, ...

Brazilians Can Now Denounce Torture Directly to the UN

From now on, Brazilian citizens can report cases of torture directly to the United ...

Carandiru Massacre’s Author Killed Out of Jealousy, Say Brazilian Police

The Brazilian police have concluded that colonel Ubiratan Guimarães, the man responsible for the ...

Brazil Starts Enriching Uranium for Its Nuclear Power Plants

The INB, state-owned Brazilian Nuclear Industries, is going to enrich uranium in Resende, in ...

Public Admission of Being Gay Lands Brazilian Army Officers in Jail

Two Brazilian Army sergeants were arrested Tuesday, June 3, yesterday at a TV Network ...

KFC tries again to win Brazil

After Past Decade’s Failure, KFC Once Again Tries to Win Brazilians

KFC first tried to establish itself in Brazil during the 1990s. That attempt, however, ...