Brazil's Finance Minister Affirms Lula's Fiscal Responsibility Commitment

Brazil's Finance Minister Dario Durigan stated the government is committed to fiscal responsibility and market stability without retaliation following President Lula's reelection. The statement comes after a negative market reaction to the election results. Durigan said the economic team will present documents proving the fiscal commitment, emphasizing public accounts stability won't be pursued through retaliation. He discussed the matter directly with Lula and defended open dialogue with business leaders and market agents. The government has ready proposals for Congress, including measures to meet the inflation target and restore budget funds, with announcements expected soon. The market reaction was the worst post-election session since 2002, with the Ibovespa falling nearly 14% and the dollar rising to R$5.40.