According to minister Simone Tebet, the project for the new fiscal framework should pass the Chamber still in May and the Senate soon after.| Photo: Edilson Rodrigues/Agência Senado

Minister Simone Tebet, of Planning, said this Wednesday (26) that she expects the government to be able to sanction the project for the new fiscal framework in the first half of the year, before the start of the parliamentary recess in July.

According to the schedule worked out by the economic team, the new fiscal rule should be approved in the Chamber of Deputies still in May and in the Senate in June. Tebet says that the procedure will be faster among the deputies, after the promise of President Arthur Lira (PP-AL) to put it on the agenda until May 10th.

“If we have the framework approved by the end of this semester, I believe we will give a great signal to the market and investors, and the numbers are already positive”, he said.

The new fiscal anchor project, officially delivered to Congress last week, was well regarded by the president of the Central Bank, Roberto Campos Neto, with whom the government is fighting over maintaining the basic interest rate at 13.75%. The economic team led by Tebet and Fernando Haddad, from the Treasury, hopes that the changes in the debt control mechanism will make the monetary authority reduce the Selic rate.

However, Campos Neto told senators this Tuesday (25) that the new fiscal rule alone is not enough to lower the interest rate, and that he does not know when the reduction should begin.