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President-Elect Lula To Meet Lower House Speaker

BRAZIL
  • Brazil retail sales rose in September, as consumers boosted their purchases of fuels and bought more at hypermarkets and supermarkets. Most recent price action for Brazilian assets has suggested a moderation in the post-election optimism as Lula’s transition team take shape and details regarding his potential cabinet and fiscal policies develop.
  • President-elect Luiz Inacio Lula da Silva has his first day of agenda in Brasilia since elected, on Oct. 30. Lula will have meetings with lower house speaker Arthur Lira at 10am and with Senate Head Rodrigo Pacheco at 1pm. Transition team coordinator and Vice-President elect Geraldo Alckmin will also spend his day in Brasilia. (All times local)
    • Folha de S.Paulo newspaper reported on Tuesday that Lula’s transition team wants to permanently remove a set of social expenditures from the spending cap. Furthermore, VP Alckmin said the budget exemption value to pay for expenses on social programs, resumption of works and investment is not defined yet.
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