Economy Minister Paulo Guedes repeated this Wednesday, the 8th, that the “noise of politics has distorted the reality” of facts about the Brazilian economy. He once again argued that fiscal sustainability is preserved.
“There was a lot of noise about Brazil losing control of fiscal policy, that Brazil was a victim of fiscal populism. But I will give you facts and figures”, he said, reaffirming that the current government will reach the end of the fourth year spending less as a proportion of the Gross Domestic Product (GDP) than the previous government.
Guedes participated virtually in an Apex event held in Miami in the morning. Event recording is only available now. The minister once again highlighted that the current government attacked the main expenditures of the Union, such as the breach in Social Security, interest expenses and, now, the precatory bill.
He also recalled that the spending ceiling rule applied from 2017 onwards granted a transition in the first three years. “They managed to respect the ceiling and then we had problems. Despite this, we are committed to respecting the spending ceiling”, he emphasized.
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