Lula criticizes OECD forecast for the Brazilian economy – 12/19/2023 – Market

President Luiz Inácio Lula da Silva (PT) criticized this Tuesday (19) the analysis and predictions made by international organizations about the Brazilian economy, specifically citing the OECD (Organization for Economic Cooperation and Development).

Lula did not specifically mention which prediction he was referring to. However, the organization released a report the previous day in which it points to the prospect of an increase in Brazilian public debt, even with the approval of the fiscal framework by the National Congress.

“You keep seeing headlines, and today I saw a headline that made me angry. I was very angry. I saw a headline from the OECD judging the Brazilian economy. I even want to take advantage of this recording here to tell the OECD people that, When it comes to the end of next year, I will invite you to have a coffee to prove that you were wrong in relation to your forecast for Brazil”, stated the president.

This Tuesday morning, Lula held his traditional live broadcast on the internet, Conversa com o Presidente.

This was not the first time that the president criticized the forecasts of international organizations for the Brazilian economy. Lula had already attacked the GDP (Gross Domestic Product) growth forecast made by the IMF (International Monetary Fund).

The president even stated that he wanted to meet with the director general of the IMF, Kristalina Georgieva, during COP 28, at the end of last month, to show that the organization’s predictions were wrong.

Lula also took advantage of his speech on the broadcast to praise the Minister of Finance, Fernando Haddad, for approving the tax reform. He said Haddad did an “extraordinary job” in managing to negotiate progress on economic reforms.

“I think the government has been doing well, ministers are all very dedicated. I think the work that the leaders have done, that [Fernando] What Haddad did in the National Congress was extraordinary for us to be able to approve everything that is being approved,” said the president.

“Making tax policy in a democratic regime is new in Brazil”, he added.