Brazilian Economy Minister: “I Never Said the Economy Would Grow This Year”

RIO DE JANEIRO, BRAZIL – In an interview with foreign correspondents in Rio, he criticized the demands on Jair Bolsonaro’s government for an immediate upturn after years of “lost growth,” and said he sees a more favorable scenario for 2020.

“I never said that the economy would grow this year,” he said, noting that he knew that  Gross Domestic Product (GDP) would not reach the 2.5 percent that supported the budget proposal submitted by the Temer government for 2019 last year.

The minister tried to convey an optimistic view of the economy in 2020.

“I think there is a good chance that the country will do well next year. 2.5 percent? 1.0 percent? 1.5 percent? I don’t know. By the second semester we will be doing better than in the first semester,” he said.

Paulo Guedes asked for “a year or two” to try to fix “the financial destruction” caused by the bankruptcy of companies such as Petrobras and Eletrobras in Brazil. The minister also said he wants to do the right thing and that the deficit will be “whatever is feasible”.

“I would like it to be zero. Now, it will be the lowest in the past five years. In the first half, it was the lowest nominal deficit in the past five years and we generated more jobs. So, we are doing our part,” he said.

Mentioning Operation Lava Jato, Guedes criticized Brazil’s poor image abroad and ruled out threats to the democratic regime. “Democracy is not at risk. This is losers’ talk. When they win, all is well, when they lose, then democracy is at risk. It’s small talk,” he said.

Source: UOL

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