Lula Says Brazil’s High Public Debt Doesn’t Cause Panic

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Lula says Brazil’s high public debt doesn’t cause panic

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President Luiz Inácio Lula da Silva said this Sunday that public debt does not cause him panic and cited international reserves as a reason to trust the country's ability to face economic difficulties. At the same time, he said that he is concerned about debt and intends to reduce debt in relation to the size of the economy. — When I say that public debt does not cause me panic, it is unreal public debt. We have a reserve of $370 billion, made b…

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Lula da Silva admitted that public life is a cause for concern because "in the good duty more than one receives" and undertook to, if re-elected, to commit efforts to reduce debt.

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According to data from the Central Bank, the Brazilian public debt, which amounted to 71% of gross domestic product (GDP) when Lula assumed the third mandate, in 2023, reached the equivalent of 83% of the product this year.

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The President of Brazil stated that Brazil's high public debt, considered one of the greatest threats to fiscal stability, is not cause for "panic", due to the high international reserves that the country has.