Lula registers re-election bid, declares R$4.7 million in assets

Luiz Inácio Lula da Silva, Brazil's president, officially registered his bid for re-election with the Superior Electoral Court on Saturday. He declared assets worth R$4.7 million, a notable decrease from the R$7.4 million he reported in 2022. This represents a nominal drop of 35.7% in his declared wealth.

The majority of Lula's declared assets, approximately 69.4%, are held in two private pension plans, totaling R$3.31 million. He also reported a 26.68% stake in a property in São Bernardo do Campo valued at R$130,000, a vehicle worth R$50,000, and other smaller assets.

The reduction in his declared wealth is largely attributed to a decrease in the value of his private pension investments. In 2022, Lula declared R$5.57 million in one pension plan, whereas this year, his two plans combined amount to R$3.31 million, a reduction of about R$2.26 million. This figure accounts for roughly 85% of the total decrease in his declared assets.

Alongside his candidacy, Lula submitted an 84-page government plan. Key proposals include establishing a Ministry of Public Security, maintaining the current fiscal framework, expanding the "Minha Casa Minha Vida" housing program, strengthening the "Pé-de-Meia" educational incentive program, and pursuing zero deforestation by 2030. The plan also advocates for ending the 6x1 work shift and reducing the work week to 40 hours without a pay cut.