Lula Downplays Debt Worries, Defends Son in TV Interview
Brazil's Lula says public debt isn't a concern, citing growth and surplus; defends son amid investigation.
Brazilian President Luiz Inacio Lula da Silva said Thursday that the country's rising public debt does not worry him as he eyes a potential new term, arguing that the fiscal picture has brightened since he took office in 2023 and that the government is on track to post a primary surplus this year.
In an interview with TV Globo's Jornal Nacional, Brazil's most-watched newscast, Lula said economic growth would help bring down the debt-to-GDP ratio. Central bank data shows gross debt has climbed more than 10 percentage points during his tenure, reaching 81.9% of GDP in June. Lula attributed part of that increase to the benchmark interest rate, currently at 14%.
Lula also addressed an investigation involving his son, Fabio Luis Lula da Silva, who is suspected of improperly assisting a lobbyist in dealings with the health ministry. The president called the allegations speculation and said his son is innocent, while acknowledging the probe has raised suspicions about the government. He stressed that anyone found guilty would face the law, and that he would not shield his son from accountability.