New fiscal framework will consider surplus and debt, says Alckmin

The Minister of Development, Industry, Commerce and Services and Vice President of the Republic, Geraldo Alckmin, said today (13) that the new fiscal framework, drawn up by the federal government to replace the spending cap, should stipulate a spending limit associated with the fiscal surplus and the evolution of the public debt.

According to the minister, the new rule should be submitted within two months to the National Congress. According to Alckmin, a meeting with the Minister of Finance, Fernando Haddad, is scheduled in the coming days to discuss the issue.

“[O novo arcabouço] should be voted on in a supplementary law, which should be forwarded to the National Congress in the next 30 to 60 days. It should take into account the spending limit, it should take into account the debt curve, debt evolution, and the surplus issue. It’s a combination of several factors. Let’s wait for the Minister of Finance, after President Lula’s approval, to announce it,” he said.

mad cow disease

The minister stated that he is awaiting the green light from China for Brazil to resume exporting beef to the Asian country. According to Alckmin, “it is a matter of days” to resume shipping the product to the Chinese. Brazilian beef exports to China were suspended after the discovery of a case of mad cow disease in an animal in Pará, at the end of February. Exams showed, however, that the case is atypical, when the bovine develops the disease naturally, due to age, and not due to contamination.

“The ball is in China’s court. It has been proven that this case is not classic, it is an atypical case for an elderly animal. So we are waiting, I think it is a matter of days for it to be released. And it is important, because more than 50% of Brazilian beef exports are to China,” he said.

Alckmin’s statements were made in the capital of São Paulo, at an event held by the Brazilian Trade and Investment Promotion Agency (ApexBrasil).