The Minister of Finance, , stated this Tuesday (4) during an event in São Paulo that if he were the president of the country he would lower interest rates.
— They’re going to have to fall. No matter how much pressure the banks put on the Central Bank not to lower interest rates, they will have to fall. There is no way to sustain 15% real interest rates with inflation hitting 4.5% — he said. — I am not director of the Central Bank. If I were, I would vote for the fall.
The statement was given to journalist Walter Brandimarte, from Bloombergduring an interview given on the stage of a forum that the company held about investments in the environmental area.
FREE LIST
10 small caps to invest in
The list of stocks from promising sectors on the Stock Exchange
The minister said he does not believe that, with the gap that currently exists between the real interest rate and inflation, this could come under pressure again. On the contrary, he suggested that interest rates could harm the economy now.
— I am allergic to inflation, and I know what inflation causes, but there is a question of reasonableness — he said. — The dose of medicine to turn into poison makes very little difference.
The minister’s statement was given on the day of the Copom meeting, which must decide whether or not to change the rate.
Continues after advertising
Haddad also stated during the conversation that an ideological sector of the financial market is rooting against the government’s performance and losing money as a result.
— What I see people rooting against this country is impressive in the financial market. The guy has his own ideology. Then he bets that the dollar will rise. The dollar falls, he loses a mountain of money, and he blames the government — he said. — It’s something that really needs to be studied. The guy lost money because he bet wrong. That’s all that happened. He has to come to terms with what he lost and hope it works out.
Green agenda
The minister’s interview was given amid investor presentations on the green economy and the energy transition, on the eve of COP 30, the Belém climate conference.
Haddad said that the government’s commitment to creating the Tropical Forests Forever Fund (TFFF) with 11 other countries should be the flagship for implementing policies to encourage environmental preservation in the country.
The minister also states that Brazil is in a privileged position for the energy transition, because the country’s energy matrix is already anchored in hydroelectricity, which is a source of low CO2 emissions.
— Brazil’s competitive advantages are in line with the climate agenda — he said. — Brazil has clean and cheap energy, so it doesn’t even make sense for us to exchange it for dirty and expensive energy.
Continues after advertising
Haddad said that he also hopes that sugarcane alcohol will be another asset in the global economic transformation that needs to occur to contain greenhouse gas emissions and the climate crisis.
— The issue of biofuels is also important. Are we going to give up on an agenda in which Brazil has 30 to 40 years of tradition in biofuels? It is just better from a technological point of view, and has a series of advantages.
