Minister says she is in favor of broad independence, but that it is necessary to have the approval of the government's economic team
The Minister of Planning and Budget, Simone Tebetsaid he was against the establishment of financial autonomy for central bank through a PEC (Proposed Amendment to the Constitution).
“It is not the responsibility of the Federal Senate or the National Congress to discuss, for example, the readjustment of civil servants or the budget of a body other than a body linked or linked to the Legislative Branch”she declared in an interview with CNN Brazil aired this Saturday (March 30, 2024).
The PEC 65 of 2023 proposed the modernization and broad independence of the BC. The text is under analysis in the Senate. The president of the monetary authority, Roberto Campos Netosaid he was in favor of the initiative, despite arguing that the choice was up to the Legislature.
Tebet stated that the changes need to be made in agreement with the government's economic team. He suggested an opinion from the CMN (National Monetary Council) on the topic. The body is formed by the Ministries of Finance and Budget and Planning and the Central Bank.
“You need to analyze it on paper and then put it into practice to see if it is viable. I do not prohibit debate. […] A We can debate budgetary financial autonomy, as long as we have control of the economic team”said the minister.
Despite the criticism, Tebet was in favor of a review of the maintenance of the Central Bank in the Union Budget. According to the minister, the institution's biggest concern is the ability to pay good salaries to employees so as not to “losing talent”.
“I have already met with President Roberto Campos more than once – he is concerned that the limited fiscal space of the Brazilian Budget often prevents him from being able to make readjustments and retain the best staff within the boards and technicians of the Central Bank”declared the minister.
#Tebet #giving #financial #autonomy #PEC