Tax reform should be approved in the 1st year, says Alckmin – 05/17/2023 – Market

Vice President Geraldo Alckmin (PSB) said this Wednesday (17) that the tax reform proposal needs to be voted on in the first year of the Lula government, or else it will lose timing and run the risk of not moving forward.

“I am optimistic. I think the tax reform project is mature, much discussed, debated. Reforms have to be approved in the first year. If you lose the first year, it’s over. It’s now that you have to vote,” said the vice president.

The vice president also said that the proposal being discussed in Congress “is not a finished and perfect work”, but that it will still be a step forward and bring efficiency to the Brazilian economy.

“I think it is not a finished and perfect work, but it will help a lot, because it brings economic efficiency, simplification, help in exports”, he added.

Alckmin assumes the presidency of the Republic this Wednesday morning, with the trip of Luiz Inácio Lula da Silva (PT) to Japan, to participate in the G7 summit. He participated in the opening of the Competitiveness Forum event, in Brasília.

The vice-president also praised the possibility of approving the emergency regime for the new fiscal framework, which will be analyzed by the Chamber of Deputies this Wednesday. He said that it will be one more element that will contribute to stabilize the economic indicators.

“The fiscal issue, the fiscal anchoring, is also in Congress, it will now be discussed, I think today is the emergency regime. There is also an important proposal. Inflation is falling, we are at 4.12% a year and it should go down by 4%. Inflation much lower than Europe, United States, this should lead to a reduction in interest rates”.