Minister Rui Costa, from the Civil House, stated this Thursday (28) that the dollar should retreat when the financial market understands the changes.
The statement was made after the market’s negative reaction to the adjustment announced by the Minister of Finance, which includes cuts, cost containment and changes in Income Tax taxation. The package, however, was viewed with suspicion and.
“The dollar will fall. I think that’s where we need to talk to the market. The economic team will talk and I have no doubt that when all the measures are clarified in detail [o dólar vai cair]because what was charged was fully, 100% met”, said Rui Costa.
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The minister reinforced a frequent speech in the government that “whoever bets against Brazil will lose and we are not going to play at making economic policy, we are not going to play at governing, our commitment is to make this country grow in a sustainable and lasting, long-term way.” , with a commitment to fighting economic indicators”.
Costa highlighted that the package fully meets demands for a balance between revenues and expenses, in addition to medium and long-term projections in line with fiscal rules. According to him, the government is “cutting corners” to ensure compliance with the framework, through blockages and contingencies throughout the year.
Among the measures are the reduction in the growth rate of the minimum wage, which impacts indexed expenses, and a fine-tooth comb in social benefit programs.
“We are putting together a gigantic effort, together with expertise from the INSS and Social Security, so that, at the beginning of the first semester, we carry out a joint effort to carry out expertise on all these people,” he stated.
He highlighted that the initiative aims to improve public spending between revenues and expenses, without compromising investments and fiscal responsibility.
The package also provides for changes in Income Tax, with exemption for income from R$5,000 to R$6,980 per month and minimum taxation of 10% for those earning over R$50,000. Rui Costa emphasized that these measures demonstrate the government’s seriousness in ensuring sustainable, long-term growth for the country.
“There is no doubt about the president’s commitment and our commitment. And these changes that will be implemented, for example, the reduction in the growth rate of the minimum wage, which impacts all other policies where the minimum wage is indexed, they lower the growth speed [das despesas]”, he added.
