Finance Minister Fernando Haddad and President Lula.| Photo: André Borges/EFE

President Luiz Inácio Lula da Silva (PT) said this Wednesday (15) that he must decide on the proposed new fiscal framework before his trip to China, scheduled for March 26.

Earlier, Finance Minister Fernando Haddad spoke briefly with Lula about the project, but guaranteed that the details of the new framework will be presented by him to the president next Friday (17th), together with members of the economic team. “He [Lula] scored the day after tomorrow [sexta-feira]therefore, the meeting for the details to be presented, I already talked to him about the matter”, Haddad told journalists.

Haddad said that the design of the new fiscal rule is ready and that it now depends only on the president’s approval. Last week, Minister Simone Tebet, of Planning, even said that the design of the new framework will “please everyone, including the market”.

The first part of the project has already been presented to vice president Geraldo Alckmin this Tuesday (13). “[O novo arcabouço] should be voted on in a supplementary law, which should be sent to the National Congress in the next 30 to 60 days. It should take into account the spending limit, it should take into account the debt curve, debt evolution, and the surplus issue. It’s a combination of several factors”, assured Alckmin.