The announcement of economic measures by the Minister of Finance, Fernando Haddad (PT), occupied a space on the new government’s agenda to talk about the country, and not about the management of the political crisis installed after the attacks on the Three Powers last Sunday (8).
The initiative was well received, as a pragmatic performance by the economic team.
Haddad’s plan pleased, even if it did not come as a surprise because of the greater weight in revenue collection, and not in the reduction of expenses: the possibility of ending the deficit of more than R$ 230 billion this year has only R$ 50 billion in cost-cutting tip.
The success of the measures is possible, but unlikely, as the minister himself admitted. He will already be satisfied if he ends the year delivering a deficit below 1% of GDP — which is quite feasible, according to analysts.
As the devil is in the details, there is a lot of uncertainty about the scope of the measures. The arrow in the script presented by Haddad points to the right direction, in the view of many people who have even been on an economic team. Arriving at the destination, however, is another story.
Without resisting the appeal that his speech produces, Haddad also gave the Central Bank (BC) a short stick in his speech last Thursday (12).
In this Friday’s episode (13), the CNN Money looks into some of the details of Haddad’s plan and brings a first reading of analysts on the announced package, in addition to the repercussions of the “American earthquake”, which had effects not only on the market, but on confidence in the governance of Brazilian retailers.
Presented by Thais Heredia, the CNN Money it presents a balance of the news subjects that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.
*Posted by Tamara Nassif
Source: CNN Brasil
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
