‘Congress has given a demonstration of maturity that we have to applaud’, says Haddad

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Haddad came to Rio de Janeiro to launch selected proposals from the capital market and insurance market initiatives. The Minister of Finance, Fernando Haddad, said this Thursday (20) that the National Congress “has demonstrated maturity that we have to applaud” – in reference to the approval, in the Chamber, of reforms in the collection of taxes by public entities. “What seemed unthinkable 6 months ago has today become not just a reality. Congress said: ‘The government has to deliver the Marco Fiscal by August’. They imagined that before August it would be impossible to deliver the Marco Fiscal. We sent it in April, and it will be approved in August,” he recalled. “I am an optimist. You can’t do politics without being optimistic, right? I believed since the beginning of the government that we could create an environment of greater harmony with the other powers, Judiciary and Legislative. We could build a solid base to support this project and we could, yes, approve the projects that will guarantee this result”, he continued. Haddad said that risk rating agencies, “which make those famous ratings”, asked him if the Brazilian Fiscal Framework “could be a little better” than the Congress approved. He did not specify which agency asked that question. “I said: ‘Everything can be a little better — including your agency can be a little better too’”, he narrated. “The question I ask is: is there a better Fiscal Framework than the Brazilian one at this moment? Because we are talking about people, we are talking about a series of people who have different opinions. Which country has a better Fiscal Framework than Brazil today?”, he asked. Haddad came to Rio de Janeiro to launch selected proposals from the capital market and insurance market initiatives. This report is currently being updated.

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