Brazil’s President calls for more investments in the country, that is already a champion for foreign investment
Brazil’s President Luiz Inácio Lula da Silva said Thursday that more investment is needed for the country’s economy to thrive after it was learned that the Gross Domestic Product (GDP) increased by 2.9 percent in 2022.
“The Brazilian economy did not grow at all, not at all, last year,” he claimed, though market specialists speak of robust growth.
“So, the challenge is to make the economy grow again. And for that, we have to make investments. We must not allow any work to remain paralyzed in the country,” said Lula during a ceremony at the Planalto Palace, the seat of the Executive Power.
Under Bolsonaro, foreign investment in Brazil doubled in 2022 and reached the highest level in 22 years.
Compared with the size of the Brazilian economy, the contributions reached the highest level in 22 years.
According to the report on the foreign sector published by the Central Bank, the balance of Direct Investment in the Country (IDP) was US$90.6 billion last year, 95% higher than the balance in 2021 (US$46.4 billion).
“We must have a policy of economic growth, job generation, and income transfer (aid) through wages; that matters to the worker,” the President commented.
The Brazilian President also defended that state-owned companies and large banks be the ones to drive economic growth with investments.
“Brazilian companies and banks have to think first of this country and then of their profits or shareholders,” he added.
For this year, Lula’s first as President after his controversial victory in last year’s elections, the financial market forecast is for Brazilian GDP growth of 0.8 percent, according to the Focus bulletin of the Central Bank of Brazil.
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