Brazil

Rousseff replaces Finance and Planning Ministers


Published

President Dilma Rousseff has made two changes to her Cabinet in an announcement made yesterday afternoon.

Nelson Barbosa becomes the new Minister of Finance. He replaces Joaquim Levy. According to the presidential website press release Mr Barbosa has reaffirmed the government’s commitment to fiscal stability and ensuring a goal of 0.5% of GDP as agreed in Congress this week. “The commitment to fiscal stability remains the same. The volume of cuts and discretionary spending should reach R$ 78.5 billion. In 2016, we expect to spend the same as we spent six years ago”, Barbosa said.

Valdir Moysés Simão becomes the new Minister of Planning. The new minister said that his goal in the new portfolio will be to continue working tirelessly for the improvement of public spending and for the government to implement quality public policies. “The adjustment in management is not enough to seek fiscal balance. Tax reform is important and the Ministry of Planning will contribute strongly to government to make structural adjustments, especially in compulsory expenditure”, he said.

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