Address by the President of the Republic, Jair Bolsonaro, during the inauguration ceremony of the President of Banco do Brasil, Mr. Rubem Novaes; the President of the National Development Bank (BNDES), Mr. Joaquim Levy; and the President of Caixa Econômica Federal, Mr. Pedro Guimarães - Brasília/DF

Brasília-DF, January 7, 2019

Mr. Vice-President,

Dear Ministers,

Civil and military authorities,

Brazilians,

Good Morning.

Surely the event is quite busy because it is the money men who are here. Only this time it's the good money.

I would first like to thank Mr. Paulo Guedes, who believed in me. Of course, he came to know me from that moment on for about two years, and I said to him: "I believe in you, Mr. Guedes." And he said back then that I could just call him Paulo, but our training does not allow it. Mine, at the Agulhas Negras Military Academy, and his from the Military School.

But a friendship was born there. Our ignorance - mine or of the ladies and gentlemen in attendance - of many areas and the acceptance of it is a sign of humility. I am sure, without any demerit, that I know a little more about politics than Paulo Guedes. And he knows more, a whole lot more, about the economy than I do.

So, starting from this principle, of respect above all, we began to “date”, in a good way. And I became stronger by his side. Something that looked as though it would not happen, according to the tradition of Brazilian politics, actually came to fruition. This is very important and has never happened in government in Brazil.

Mr. Paulo Guedes, as well as the other ministers, were free to choose all their high management positions, without any political interference. Today, the heads of BNDES, Banco do Brasil and Caixa Econômica have chosen all their directors. Until recently - in my 28 years of experience as a parliamentarian, what we heard the most was a real fight to decide which political party was going to keep this or that high management position and in what bank.

It is a clear sign that we could not succeed in the economy. At an informal meeting just now in my room, it was the first time I shook Joaquim Levy's hand. I even asked him, very informally: "Will Brazil work?" And the answer was simple. It would be like striking a penalty without a goalkeeper. If it was not going to work, we would not be here.

It's the same with you. You are here because I believe in you, and if you are here, it is because you believe in our Brazil.

And I have been talking, in the pre-campaign, during the campaign and now also, with these young people who will head national economic policy. Transparency above all else. All our acts will be - will have to be - open to the public and what has happened in the past as well.

We cannot accept, in any of these institutions, any retroactive confidentiality conditions. Those who went to these institutions to be friends of the king, to seek privileges, no one will go after them. But these acts, these actions, these contracts, will become public.

So, based on that, it's also why I... Because no one can do anything alone. We have a team on our side. I believe in this team composed by Mr. Paulo Guedes to lead not only the economic destiny of our country, which is why he is here. But to lead the destinies of our Brazil. If the economy goes well, we will have more jobs. The rate of violence will decrease, satisfaction will make itself felt among our people. And we will begin to live better days for our Brazil.

We cannot make mistakes. If we make a mistake, you know well who can come back. And law-abiding people, who were the majority who believed in what we preached over the past few years, cannot be disappointed by us. And I am sure, with this economic team here, with the team of ministers that is in front of me, with the military of the Armed Forces, that they will, indeed, have their value recognized in Brazil. With this great team, we will be able to put Brazil in the prominent place that it deserves.

And to conclude, it seems simple, but it is not. I also talked with the authorities here of the economic area. We are going to democratize advertising funds. No press agency will be entitled to more or less of what we, quite rationally, will spend with our press. That what we want, more and more, is that you are stronger and impartial, and not partial as some unfortunately were a little while ago. Free press is the guarantee of our democracy. We will believe you, but these advertising funds will not be more privileged to company A, B or C.

And we are going to seek, with the Brazilian Parliament, to resolve the BV [Advertising Bonus] issue. This has to go away. I learned just what it is, and I was surprised and even scared. Let's eliminate these issues, so that the press can, more and more, do a good job in Brazil.

Also, the issue of NGOs... It seems not to be so important, but it is. The funds, the funds that are released to NGOs will be subject, as is everyone's hope, to strict controls so that we can then, make sure public funds are well used.

Ladies and gentlemen, my dear Paulo Guedes, my friend, if I may call you that way, from longer ago. Zum Zaravalho [war cry of the Military School]. I want to thank you for accepting this invitation, to seek a way out of the economic crisis that we have, and to make the population believe in your work. Because only then can we really be happy in the future.

So, to everyone here, especially the economic team, my thanks and even a new opportunity, God willing.