BRASÍLIA, Nov 11 (Reuters) – Economy Minister Paulo Guedes said on Thursday that there is a lot of passion in the assessment that the Precatório PEC is a default, arguing that it “evidently is not” and noting that the government is very hopeful after its approval in two rounds in the Chamber of Deputies.
“The first big advantage is that (the PEC) makes Budget feasible. The second major advantage, even more important, is that this extends into the foreseeable future, in other words, there will be no more scares in court orders”, he said, while participating in the Itaú Macro Vision conference, organized by Itaú Unibanco.
The minister defended in his opening speech that the Brazilian fiscal remains “very strong” and assessed that states and municipalities have improved finances because the government has stopped expenses, such as those related to civil servants’ payroll.
“We are following our original program,” he said.
(By Marcela Ayres and Victor Borges; Edited by Isabel Versiani)
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