To grow, the economy needs a credit boost, Haddad argues

Finance Minister Fernando Haddad said on Wednesday that the Brazilian economy needs a “credit boost” to grow, which, according to the minister, would be possible by reducing the base interest rate, currently at 13, 75% per year.

In a public hearing before the House Finance and Tax Committee, Haddad also said that economic growth will be helped by a “calibration of monetary policy”.

The minister reflected on the fact that the tax issue does not depend exclusively on the Executive, citing the approval by the Federal Court (Stf) of the possibility of applying the most advantageous rule for policyholders in calculating pension benefits, the so-called “life revision”. He also pointed to the discussion of compensating taxpayers for withdrawing PIS/Cofins on ICMS as an example.

According to Haddad, the impact could reach 860 billion reais, in the worst case scenario for the national Treasury, due to these two decisions.

Source: Terra

Rose

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