“All that’s missing is the scandalous interest rates to fall”, says Alckmin about Selic

The vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin (PSB), again defended this Monday (17) the reduction of the country’s basic interest rate, the Selic, which is at 13.75 % per year. When commenting on the investment possibilities planned for Brazil, Alckmin assessed the country’s economic situation and said that the “scandalous interest rates” need to fall.

“Things are going well: falling inflation, a competitive exchange rate, tax reform approved by the Chamber, the fiscal framework in progress. All that’s missing is the scandalous interest rates falling and we are going to have an even stronger generation of jobs”, said the vice-president, informed the Brazil Agency.

About a survey in which the Institute of Applied Economic Research (Ipea) estimates that the new tax (VAT) approved by the tax reform should be at 28.04%, Alckmin stressed that “it is still too early” to assess the impact.

“I think it is too early to have the final result of this work, but I would say that it was an important step. The principles of the tax reform are in place. Simplification, reduction of the Brazil cost, reduction of judicialization, complete exemption of investments and complete exemption of the trade,” he said.

The declarations took place during the international seminar Cooperatives for Sustainable Development, at the Itamaraty Palace, in Brasília. The event is sponsored by the United Nations (UN) and the Organization of Brazilian Cooperatives (OCB). The vice president also defended the strengthening of cooperativism in the country in his speech.