For Meirelles, Lula da Silva’s economic team announcement tends to calm the market

Former Finance Minister Henrique Meirelles said that the announcement of President-elect Luiz Inácio Lula da Silva’s economic team would contribute to calming the market.

He said he has not yet been invited to join the team and is not working with hypotheses.

“The announcement of the economic team is expected as soon as possible.

“There is no doubt that the announcement of the economic team tends to calm the market,” said Meirelles, to journalists, after participating in the event of Lide (Group of Business Leaders), on Tuesday morning, November 15, in New York.

“The government is being composed in a very short time,” he added.

He warned about the market’s reaction but pondered that the impact on Brazilian assets would depend on the names chosen.

He also said that the market goes beyond the financial system and includes society, small business people, etc.

“The market is much more than the financial market. It is the baker. It’s all those in productive activity,” he said.

About whether he had already received an invitation from the transition team to be part of the future government, he answered that he had not.

He also affirmed that he would not speculate when asked if he would accept a position in Lula’s government.

Meirelles again reinforced the need for the government to pay attention to fiscal and social responsibility.

“When the government overspends, it leads to a lack of confidence. Keeping expenses under control is the best way to guarantee social inclusion and growth.

“It is important that the economy grows and creates jobs”, he evaluated. “We have to have a social responsibility but establish a clear fiscal target”, he added.

About the transition PEC, Meirelles said that the measure is necessary to accommodate the transitory expenses.

“The transition PEC is a waiver. It is important not to stop at the PEC of transition because then it ceases to be a waiver,” he concluded.

With information from Estadão

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