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Country may have zero deficit in two years with economic plan, says Haddad

The Minister of Finance, Fernando Haddad, said this Tuesday (17th) at the Economic Forum in Davos, that the primary deficit of public accounts in Brazil could be zeroed in two years. According to the minister, the economic measures plan presented last week could have that effect.

“Brazil lived with a primary surplus throughout the first Lula administration, and it has been eroded over the last decade, if you take the historical series. We intend to return with expenses and revenues to the level of 18.7%. If we follow this, in two years, we will be able to eliminate the deficit”, said Haddad in the panel where he shared space with the Minister of the Environment, Marina Silva.

In addition to commenting on the economic measures that should be taken in Brazil, Fernando Haddad hinted that the tax reform, an important agenda of the new government, should be divided into two parts. According to him, the first part will be voted on in the first semester of this year, and the second part in the other half of the year.

“The tax reform we want to vote on in the first half is about consumption tax. In the second semester we want to vote on a tax reform on income, and burden those who do not pay taxes. We are going to reorganize the Brazilian tax system to improve income distribution in Brazil,” said Haddad.

The Minister of Finance also commented on the criminal acts in Brasília, on January 8th. For Haddad, the union and organization of the governors and the three powers of the Republic – Legislative, Executive and Judiciary, was “very important” to “put order in the mess”. “We removed the governor, intervened in a public safety department and, in less than 24 hours, everything was resolved”, added Haddad.

Watch the video with the opening speech by Fernando Haddad and Marina Silva:

Source: CNN Brasil

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