Brazil’s Finance Minister Fernando Haddad acknowledged Monday that the latest measures taken by Jair Bolsonaro’s government will cost Luiz Inácio Lula da Silva’s new government between 10 and 15 billion reais (about 2.6 billion euros).
«It is irrecoverable, unless there is a suspension of the measures by the Judiciary,» he has explained, adding that «the damage is done.» Among the measures is the tax reduction for large companies, which has already been repealed, but will be in force for at least 90 days, as reported by the newspaper ‘O Globo’.
The former vice-president, Hamilton Mourao, signed just days before the decree to promote this measure. In an attempt to convey a message of commitment to these challenges, Haddad has pledged to reduce the deficit this year.
«The expression ‘putting the house in order’ is a common metaphor in the speeches of those who start a new government. But I dare say, without fear of exaggeration, that we are closer to the need to rebuild a house than to simply fix it,» he said with respect to the public accounts, as reported by the newspaper ‘Folha de Sao Paulo’.
Lula revoked on Sunday more than a dozen decrees signed during the government of his predecessor, Jair Bolsonaro, in one of his first institutional acts after taking possession of the Brazilian presidency, together with his ministers.
Source: (EUROPA PRESS)
