Lula’s speech strengthens coalition and ‘points to the future’, say economists

First speech by Luiz Inácio Lula da Silva (PT), elected president this Sunday (30), strengthened the prospect of a coalition government, with a more stable future for Brazil. That was the reading of economists Arminio Fraga, former president of the Central Bank, and Edmar Bacha, one of the fathers of the Real Plan.

Historically, the two are liberal economists associated with the PSDB, but who opened the vote in favor of Lula in the second round of the elections. At the end of the vote count, both used the word “relief” to define how they received the result of the election.

“Relief, relief, relief; hope, hope, hope It was a beautiful speech,” Bacha said. “Everything in the speech was very good, but especially the beginning, in which he says that it was not a victory for the PT, but for the democratic alliance. The direct mention of Simone [Tebet] points to the future.”

Tebet, from the MDB, was the third most voted candidate in the first round and had Bacha’s support in her campaign. The candidate supported Lula in the second round and there is an expectation that she will join the new government.

Literally, Lula said in his speech that “this is not a victory for me, nor for the PT, nor for the parties that supported me in this campaign. It is the victory of an immense democratic movement that was formed, above political parties, personal interests and of ideologies, so that democracy would win.”

Bacha was one of the informal members of this coalition. By opening the vote for Lula in the second round, declaring himself worried about the fate of democracy in the event of the reelection of President Jair Bolsonaro (PL), whose confrontational stance, especially with the STF (Supreme Federal Court), is seen as a risk to democracy.

Arminio Fraga had the same perception. “The victory [de Lula] it was a great relief, and the speech was inspiring, complete, of immense relief, and that reflects a constructive attitude of union with the search for convergence”, affirmed Arminio. “I would say that he surpassed himself.”

Lula’s speech particularly highlighted the importance of democracy, a factor that Fraga also considered crucial when he chose to open the vote in favor of the PT.

“This is how I understand democracy. Not just as a beautiful word inscribed in the Law, but as something palpable, which we feel on our skin, and which we can build on a daily basis,” said the elected official. “And it is this democracy that we are going to seek to build every day of our government. With economic growth shared among the entire population, because that is how the economy should work – as an instrument to improve everyone’s lives, not to perpetuate inequalities. “