PT Criticizes Central Bank Autonomy and Parliamentary Budget Amendments While Defending Sovereignty of Venezuela and Cuba
The Workers' Party criticizes Brazil's Central Bank policies and parliamentary amendments while defending sovereignty of Venezuela and Cuba as Brazil approaches the 2026 elections.
- • PT criticizes Central Bank autonomy and calls for lower interest rates, currently at 15%.
- • President Lula condemns parliamentary budget amendments as 'kidnapping of public accounts' and urges broader political alliances.
- • Resolution defends sovereignty of Venezuela and Cuba, denouncing external interference.
- • PT calls for digital regulation to combat fake news before elections.
Key details
The Workers' Party (PT) escalated its criticism of Brazil's economic policymaking during its 46th anniversary meeting in Salvador. The party's National Directory passed a resolution condemning the Central Bank's autonomy and its monetary policy, labeling the high interest rate of 15% as a barrier to economic growth. PT views current monetary policy as restricting productive investment and pledged to intensify pressure for interest rate reductions in the coming months. President Lula, who frequently debates the elevated rates with Central Bank President Gabriel Galípolo, expressed dissatisfaction with the pace of reducing these rates.
In addition to monetary policy critiques, Lula harshly criticized the growing reliance on parliamentary budget amendments, calling it a “kidnapping of public accounts” and lamenting the PT's own support for allocating approximately 60 billion reais in these amendments for 2026. He warned party members against aligning with centrist agendas and highlighted the need for tough, wide alliances to face what he described as a “war” in upcoming elections.
On foreign policy, the PT resolution reinforced support for the sovereignty of Venezuela and Cuba, condemning external interference in these nations’ self-determination. The document also stressed the urgency of regulating the digital environment ahead of elections to combat fake news and illegal use of artificial intelligence, thus safeguarding democratic transparency.
Lula additionally announced healthcare investments, including an 815 million reais plan to acquire 2,000 vehicles for patient transport under the Unified Health System (SUS). He also allocated FGTS resources to philanthropic health institutions during the event.
This multi-faceted stance demonstrates PT's opposition to current economic orthodoxy—especially regarding interest rates and budget management—while affirming principles of international solidarity, marking a key moment ahead of the 2026 electoral contest.
This article was translated and synthesized from Brazilian sources, providing English-speaking readers with local perspectives.
