São Paulo – The fiscal adjustment measures announced by the Brazilian government received the support of the International Monetary Fund (IMF) this Thursday (17th). In a press conference, the director of the IMF’s Communications Department, Gerry Rice, said that the measures are a “positive step” for Brazil to establish a fiscal balance again and resume growth.
“It’s important for these measures to be implemented now, including the approval by Congress where it’s required. A strong commitment to push the debt-GDP ratio firmly on a down path is needed to boost the market perception [towards the efforts by the country to get through the crisis] and to foster a return to growth”, he said.
Among the measures announced by the ministers of Finance, Joaquim Levy, and Planning, Nelson Barbosa, on Monday (14th), are spending and tax breaks cuts and an increase in taxes.
*Translated by Sérgio Kakitani
