BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Tuesday that the country’s economic growth is expected to reach 3.6% in 2024 and the primary deficit for the year is expected to reach 0.1% of gross domestic product (GDP).
This means the government may have met its target of eliminating the primary deficit, excluding interest payments, as the target allows a tolerance margin of 0.25% of GDP, or a deficit of 28.8 billion reais.
In an interview with the GloboNews TV channel, Haddad said his goal was to leave the economy “in a better state than when I came in,” which meant controlling spending “in the right way, without hurting low-income workers.”
Haddad stressed that the government needs to improve communication at a time when global markets remain highly “sensitive”.
He said the external environment is more complex and the whole world is worried about how the US economy is doing, news on this front will have a quick and significant impact on asset prices.