01/10/2024 – 20:07
The Minister of Finance, Fernando Haddad, said this Tuesday, 1st, that President Luiz Inácio Lula da Silva authorized the economic team to present a redesign of the bill that creates a new format to fund the Auxílio-Gás program within the fiscal framework rules.
“The president authorized us to represent a redesign that fits within the fiscal framework. He reopened this discussion. This is very important for us, because sometimes it may seem like a detail and it is not”, said the minister. He called on the press to comment on Moody’s decision to raise Brazil’s sovereign credit rating from Ba2 to Ba1, maintaining the rating’s positive outlook.
The minister also stated that there is no “straight line” work and acknowledged that, at times, the government “stumbles, takes a measure and reviews it”. The important thing, he said, is to recognize that there is a path to be followed. “And if something goes a little outside the established script, we have all the freedom to revise it for the better. There is no problem with that,” he said.
Haddad also said that he reinforced to Lula the importance of the fiscal framework during his trip to New York last week. The president’s recent speech, according to him, is already a reflection of this dialogue. “Yesterday, in Mexico, if you look at the president’s speech, it is very much in line with everything he heard in New York, both from the agencies and from the Treasury. So, this is being assimilated, this agenda is being increasingly incorporated as a need for the country”, he assessed.
The minister once again said that if there is harmonization between fiscal and monetary policies, future interest rates will fall and, thus, it will be possible to guarantee faster debt stability. “We will take the necessary measures to make this happen. In line with what we have been saying since the beginning of the government. Nothing has changed the Treasury’s narrative about what it intends to achieve, which is complex work, which involves negotiation with powers within the government, but it is the path that has been mapped out”, he emphasized.
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