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Lula’s push to boost spending in Brazil rattles markets

RIO DE JANEIRO — During the election campaign, Luiz Inácio Lula da Silva promised to maintain a massive social welfare program, raise the minimum wage, and increase spending on health and education. Now Brazil’s president-elect is trying to keep his promises – and investors are getting worried. Da Silva’s transition team presented to Congress on …

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Lula's honeymoon with the markets ends amid spending plan fears

Lula’s honeymoon with the markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s short-lived honeymoon with the markets appeared to end on Thursday as investors grew impatient with his desire to increase social spending without setting rules long-term budgets or appointing its main economic decision-makers. Brazil’s currency and the benchmark Bovespa (.BVSP) stock index both surged …

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