# Lula Consults Economic Advisors for Fourth Term Strategy President Lula meets with key economic figures to shape policy amid market volatility. - **Source:** [Poder360](https://www.poder360.com.br) - **Published:** 2026-11-05 - **Topic:** [politics](https://brifing.si/c/politics) - **Original article:** - **On Brifing:** https://brifing.si/s/9e7bf438-a189-420a-8a87-c83f17e23a46 ## Strategic Economic Consultations President Luiz Inácio Lula da Silva convened with key advisors on November 5, 2026, to discuss economic policy for his fourth term. The meeting included current Finance Minister Dario Durigan and various political veterans. While the formal structure of the new economic team remains undefined, the session signals a clear continuity in governance. ## Succession at Finance Ministry The most significant uncertainty involves the leadership of the Ministry of Finance. Governor Rafael Fonteles and Vice President Geraldo Alckmin are currently the primary candidates for the position. These figures represent different political backgrounds, reflecting the complex internal dynamics Lula must navigate while balancing his coalition's diverse interests and long-term governing objectives. ## Diverse Advisory Group The meeting featured a wide range of participants, including Miriam Belchior, Aloizio Mercadante, and Guido Mantega. Each advisor brings a distinct history with the Workers' Party, ranging from former BNDES presidents to current cabinet ministers. This group reflects a mix of traditional party loyalists and figures with deep experience in public administration. ## Focus on Public Spending The presence of figures like Bruno Moretti, who championed social programs like Bolsa Família, indicates a continued reliance on government spending. The administration aims to utilize public investment as a primary stimulus for economic growth. This approach remains consistent with the strategies employed during Lula's third term, prioritizing social welfare and infrastructure. ## Market Reaction and Volatility The meeting occurred against a backdrop of financial tension. Following Lula's re-election confirmation on October 26, the Ibovespa index experienced a sharp decline, triggering automatic trading halts. On the day of the meeting, the dollar rose 0.67% to R$ 5.489, while the Ibovespa retreated 0.82%, reflecting ongoing investor anxiety regarding future fiscal policies. ## External Economic Pressures Beyond domestic policy, global factors are influencing the Brazilian market. Increased risk aversion in New York, driven by sell-offs in artificial intelligence and semiconductor stocks, has negatively impacted emerging markets. These external pressures exacerbate the challenges faced by the Brazilian government as it attempts to stabilize the local economy and investor sentiment. ## Policy Continuity Expected Dario Durigan reported a high level of convergence among participants regarding general economic guidelines, though specific measures were not detailed. The consensus points toward maintaining the current trajectory of state-led growth. Observers are now looking for concrete appointments to the cabinet to determine how these broad goals will be implemented. ## Future Policy Outlook As the fourth term approaches, the administration faces the dual challenge of managing public debt while fulfilling campaign promises. The reliance on government-led stimulus will be tested by market skepticism and global economic shifts. The final composition of the economic team will be the primary indicator of the government's fiscal discipline moving forward. ## Sources covering this story - https://www.poder360.com.br/poder-governo/saiba-quem-lula-ouviu-para-definir-politica-economica-no-4o-mandato/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._