Febraban sees next year as challenging and deteriorating in default

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The banking sector considers that 2023 will be a “challenging” year and that the trend of default is to continue deteriorating, amid an environment of high interest rates, high inflation and lack of rationality in the political debate, which raises doubts about the situation fiscal policy and the continuity of reforms in the country.

Despite this, the president of Febraban, Isaac Sidney, said during an event in the telecommunications sector in Brasília that the banking sector “does not have any projections that default will deteriorate in a way that we lose control over it”.

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“The question is whether default will be above what we expected,” he added.

According to him, the elections bring the prospect of resuming the structural reform agenda, such as the tax one, but the political debate currently has not been marked by rationality on this issue.

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“New governments, renewed governments, start with greater political capital and strong popular support to drive a reform agenda,” Ferreira said. “Our perception is that the government that will be elected in October, be it reelection or a new election, will resume the reform agenda. This is fundamental and there will be no alternative for whoever takes charge of the country.”

Source: CNN Brasil

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