Brasília, 6/25/2003 (Agência Brasil - ABr) - President Luiz Inácio Lula da Silva promises that the government will do everything possible to enable a reduction of the country's basic interest rate (known as the Selic, presently 26% per year). Speaking at the National Industrial Confederation (CNI), Lula criticized consumer credit that carried interest rates of over 300% a year, saying he would prefer to see people paying less interest, still being able to buy things in stores, and also having some money left over for food.

Lula reiterated his plan to promote a "spectacle of growth," in the country, but admitted he was aware of the difficulties. Even so, and in spite of the difficulties, he declared, "Come rain, come snow, come earthquakes, come frowns, there is no Congress, no Judiciary that can stop us. Only God could stop us from making this country an outstanding country, something Brazil should have been from the beginning." (AB)