‘The economic team has not yet discussed changing the zero deficit target’, says Tebet

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Deputy leader of the government in Congress, Lindbergh Farias (PT-RJ), presented an amendment to increase the deficit between 0.75% and 1% of GDP. Deadline for amendments ends on Friday (17), but can be extended. The Minister of Planning and Budget, Simone Tebet, said this Tuesday (14) that the economic team has not yet discussed the possibility of changing the zero deficit target in 2024. “Look, I cannot speak on behalf of the economic team, until because we haven’t yet discussed the possibility of changing the goal or not. We have this deadline until Friday, maybe even Monday”, he told journalists, after a meeting with the Minister of Finance, Fernando Haddad. The minister commented on the amendment presented by the deputy leader of the government in Congress, Lindbergh Farias (PT-RJ), to the preliminary report of the LDO (Budget Guidelines Law), which increases the target to a deficit between 0.75% and 1% of the Gross Domestic Product (GDP) in 2024. When questioned, Tebet said that “each parliamentarian has the right” to propose a change in the deficit target and that it is up to the rapporteur to accept or not the proposals in the text. Fiscal target for 2024 generates a lot of discussion within the government; Míriam comments According to Tebet, the deadline for presenting amendments to the Budget Guidelines Bill (LDO) is Friday (17) and can be extended until next Monday (20). The minister also said that the project’s rapporteur, deputy Danilo Forte (União-CE), has been demanding information from the economic area. “At the right time, he [Forte] will consider whether or not to change the target and when that will happen”, he said. MORE in public accounts, where revenues and expenses are equivalent. The target is set out in the Budget Guidelines Law Project (PLDO) and the Budget Project (PLOA) for 2024, sent to Congress and which still need to be approved. The fiscal framework, a new rule for controlling federal government spending, provides for a tolerance range for the result of public accounts: from 0.25% of GDP to more or less. In other words, as the target set for 2024 is a zero deficit, the government can record a primary deficit (not counting interest on public debt) of up to 0.25% of GDP next year without the target being missed.

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