New finance minister reaffirms commitment to fiscal adjustment
Brasília - Nelson Barbosa expressed optimism towards the recovery of economic growth and stressed the role of the adjustment in meeting that goal.
The new finance minister, Nelson Barbosa, stated Friday (Dec. 18) during a press release, that the efforts made as part of the fiscal adjustment should continue in an attempt to stabilize the economy and achieve its recovery.
“The commitment to fiscal stability is to remain the same. Cuts and discretionary costs should add up to [$20 billion]. In 2016, we expect to spend the same as we spent six years ago. This by itself shows our commitment [to the adjustment],” Barbosa said.
He expressed optimism towards the recovery of economic growth and stressed the role of the adjustment in meeting that goal. “We're currently facing a transition phase in Brazilian economy—a phase of adjustments for a new growth cycle. We've also adopted a number of management measures in order to optimize public spending. [The action taken] still consists of restoring fiscal balance. Only with fiscal stability can we attain sustainable development,” the minister argued.
Barbosa took the post left behind by Joaquim Levy. The change in the economic staff was announced by the presidential palace through a note.
Translated by Fabrício Ferreira
Fonte: New finance minister reaffirms commitment to fiscal adjustment
