Brazilian president calls for strengthening domestic market to boost economic growth

RIO DE JANEIRO, Dec. 3 (Xinhua) -- Brazilian President Luiz Inacio Lula da Silva on Wednesday called for strengthening the domestic market as a key strategy to accelerate the country's economic growth.

Increasing people's purchasing power and promoting the circulation of income among households are essential to reviving Brazil's economy, the president said while visiting an electric vehicle manufacturing center in the northeastern state of Ceara.

A more balanced distribution of income directly boosts the domestic market and strengthens demand for industrial goods, he stressed.

He also urged prioritizing manufacturing for domestic consumers, saying, "Brazil has a very large internal market, and what we need is to produce cars to sell to the Brazilian people."

The president highlighted policies introduced under his administration to ease household budgets, including income-tax exemptions for those earning up to 5,000 reais (about 900 U.S. dollars) per month, various local energy assistance initiatives and other measures to stimulate basic consumption.

The government seeks to drive sustained growth by combining industrial expansion, technological modernization and increased domestic consumption, aiming to reposition Brazil on the world stage, he said. ■