Selic at 10% would save almost one Bolsa Família per year, says Treasury Secretary

The secretary of the National Treasury, Rogério Ceron, said this Friday (23) that if the basic interest rate (SElic) were at 10%, Brazil would save almost one Bolsa Família program per year with the payment of interest on the debt. This Wednesday (21), the Monetary Policy Committee (Copom) of the Central Bank decided to maintain the Selic rate at 13.75% per annum. This index has been in effect since August and remains in effect despite pressure from the Lula government.

“Each percentage point of the Selic costs tens of millions of reais for the public debt. To make a comparison, and I am not saying that it is this amount, but if the Selic were at 10% per year, we would have almost one Bolsa Família per year saved in interest that is being paid, it is very relevant”, said Ceron at a promoted event. by Exame magazine.

The Bolsa Família budget for 2023 is R$ 145 billion. The secretary stated that he felt entitled to discuss the management of the Central Bank. “I am responsible for fiscal policy. I don’t feel entitled to comment. I find it inelegant. The Ministers of Finance and Planning have the right and legitimacy, they are on the National Monetary Council. I am not. Just as I would not like the monetary authority to give tips on how to conduct fiscal policy”, he pointed out.