09/21/2023 – 19:36
The Minister of Finance, Fernando Haddad, reinforced on Thursday, 21st, that “pursuing” the fiscal target established by the government is “important” because it demonstrates the country’s seriousness with public accounts. The minister was asked about the mention of the commitment made in the statement from the Monetary Policy Committee (Copom), of the Central Bank, which warned of the importance of the result, under penalty of limiting the fall in interest rates.
“Pursuing a fiscal target, as the statement says, is important because it demonstrates the country’s seriousness with public accounts,” replied Haddad, for whom Brazil still has a more comfortable scenario than other countries. When making the defense, Haddad also once again highlighted the need for support from Congress in meeting the target, in the sense that Parliament does not approve new expenses and exemptions.
As shown today Broadcast (Grupo Estado’s real-time news system), while the government fights against resistance to raise the R$168.5 billion in new revenue that puts the zero primary result in 2024 on hold, Congress has carried out a “ bomb agenda” with new expenses that could cost up to R$88.5 billion to federal coffers.
“I am sure that, at each stage, Congress is open to understanding what led us to continue with the measures”, said Haddad, referring to the package of measures that increase revenue next year by R$ 168 billion, necessary for the economic team to achieve zero deficit. “By correcting the tax distortions that Brazil has accumulated in recent years and which have caused the erosion of the tax base,” he said.
Regarding the lunch with the president of the Central Bank, Roberto Campos Neto, this Thursday, 21st, Haddad replied that these meetings are periodic and serve to exchange technical information between the two authorities, including observation of the international scenario. The minister highlighted the information about long-term interest rates in the United States, which he classified as “bad news”. According to Haddad, the matter was discussed yesterday between him and US Treasury Secretary Janet Yellen.
“It (lunch) had been scheduled for some time, we always exchanged technical information, the perception of the economy. He does the same for the Central Bank”, said the minister. “We try to align information to make the best decisions in the future. Always worried about what is happening in the world. Today we had bad news in the US from the point of view of long-term interest rates,” he said.
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