Long-term Budget Goals Key for Brazil Confidence, Candidate Says
Long-term Budget Goals Key for Brazil Confidence, Candidate Says
Long-term goals for budget spending and debt reduction are necessary to restore confidence in Brazil, suggested Pernambuco’s Governor Eduardo Campos in AS/COA’s annual forum in São Paulo.
(Reuters) - Brazilian state governor Eduardo Campos, a probable candidate for president in the October election, said the implementation of long-term goals for budget spending and debt reduction are necessary to restore confidence that has been eroding in Latin America's largest economy.
In a speech at a Council of Americas event in São Paulo, Campos, the center-left governor in Pernambuco state, suggested his commitment to clear fiscal policy goals in order to enhance transparency. The presidential campaign will only begin after parties officially nominate their candidates, around June.
His remarks came a day after ratings company Standard and Poor's lowered Brazil's sovereign debt rating to "BBB minus," the lowest investment-grade ranking, in the wake of a deterioration in public finances. Campos said the S&P decision underscored the failure of efforts by President Dilma Rousseff's administration to postpone any spending reduction ahead of the election.....
