Finance Minister says govt measures already yielding results

Finance Minister Joaquim Levy said on Thursday evening (Sept. 24) that the federal government has a very clear strategy for growth and that the steps taken to achieve the cyclical rebalancing are already producing results, even if they are not visible.

“To a large extent, we're all set for economic recovery, in that commitment has been made in the fiscal area and inflation control, which translates into external s balance,” Levy said at an event in São Paulo.

According to him, major changes have been made since the beginning of the year, and despite the difficulties the population may be facing on a daily basis, “the fact is that the economy is already rebalancing.” He added that the business sector is reviewing its processes and products in order to spend resources more efficiently, and it's no different with the government.

The minister instanced social security, which places one of the heaviest financial burdens on the government coffers, where costs with state-funded sick pay were found to be much higher than in other countries. “An important part of economy is management,” he said, advocating efficient use of these resources. “Economy is also about changing laws to yield results that translate into reduced spending,” he added.

Talking about social inequality, he said Brazil is “a country with major imbalances in income distribution. Social spending plays a role. But are these social expenditures producing the desired results? These are the challenges,” he said.

Translated by Mayra Borges

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