Campos Says Brazil Needs Long-Term Fiscal Strategy After S&P Cut
Campos Says Brazil Needs Long-Term Fiscal Strategy After S&P Cut
At AS/COA’s conference in São Paulo, Pernambuco’s Governor Eduardo Campos said the country should devise a long-term fiscal policy strategy and avoid fighting inflation with “handbrake” measures.
Brazilian presidential hopeful Eduardo Campos said the country needs to reassess the political role of the Mercosur trade group, devise a long-term strategy for fiscal policy and avoid fighting inflation with measures he described as a “handbrake.”
Campos, the governor of Pernambuco state, used a speech at an American Society event in Sao Paulo today to criticize President Dilma Rousseff’s management of the economy, saying there’s a confidence crisis in the country that’s holding back investments needed to spur growth.
The two main goals of his plan are to increase productivity and improve security, transportation and education in urban centers, Campos said. When asked whether he would make the central bank independent, Campos said he personally thinks it makes sense and will try to include it in his political plan.
“We’ll have a long-term narrative of the behavior of the national debt and the primary surplus” with the aim of attracting investment that can revive growth, Campos said in a press conference following his speech at the Americas Society/Council of the Americas event. “The government needs to meet its fiscal goals without artificial tools.”
Campos, a former science and technology minister, emerged as one of the top three candidates in the October presidential election after surprisingly winning the backing of former presidential candidate Marina Silva....
