Brazil new fiscal framework designed to ‘last for long time’ -official

Brazil new fiscal framework designed to 'last for long time' -official
© Reuters. FILE PHOTO: Prices are displayed at a market in Rio de Janeiro, Brazil, September 2, 2021. REUTERS/Ricardo Moraes

SAO PAULO (Reuters) – Brazil’s Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic and political cycles.

“It is a sustainable path, unlike past solutions that had an expiration date,” Ceron said in an interview with GloboNews, adding the framework puts an end to doubts about whether government spending would get “out of control”.

Ceron said that government simulations showed Brazil’s downward debt trajectory starting as soon as 2026 under the new framework, depending on monetary easing. In the most pessimistic scenario, he added, debt would stabilize by 2029.

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