06/08/2024 – 16:10
Banker André Esteves, founding partner of BTG Pactual, and businessman Wesley Batista, shareholder of the J&F group, controller of the JBS meatpacking company, shared optimistic views on Brazil’s current economic scenario.
At an Esfera forum in Guarujá, on the coast of São Paulo, Esteves supported statements made before his speech by the president of the National Bank for Economic and Social Development (BNDES). “I want to echo President Mercadante that we are in a good moment for the country.”
Esteves emphasized that Brazil is experiencing the best moment in the job market and the population’s income, highlighting economic performance. He also praised the Ministry of Finance for its efforts to achieve fiscal balance, despite market criticism on this front, highlighting the importance of controlling expenses without compromising the State’s investment capacity.
“To reach fiscal balance, we need to look at our spending. Controlling expenses does not mean the State is unable to invest,” said Esteves.
Furthermore, the BTG partner considered that the discussion at the moment is when the real interest rate will fall from 6% to 3%. He considered that this reduction will not occur through artificial measures, but rather through society’s commitment to fiscal adjustment.
Wesley Batista, in turn, highlighted Brazil’s economic growth, which has exceeded financial market forecasts. “Brazil is growing above what the financial market predicted; we are investing,” he stated.
The businessman highlighted the importance of dialogue between the public and private sectors to face challenges. “We will always have problems, the important thing is that the public and private sides are open to dialogue.”
He also highlighted the significant growth of agribusiness – 11% in the first quarter – and defended a more positive view of the country. “For me to come here and say that we are not optimistic does not reflect reality with agriculture growing 11%. The people are working, we are producing and the country is doing well; stop talking bad about Brazil,” concluded Batista.
Both business leaders demonstrated cautious optimism, reinforcing the importance of responsible fiscal policies and a collaborative environment between government and the private sector to sustain Brazil’s economic growth.
*The reporters traveled at the invitation of Esfera.
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