The amount will be added to the R$ 28 billion contingency implemented at the beginning of the year. “The goal is to improve the quality of public spending and strengthen the fiscal soundness of the country,” said the Finance Minister
Brasilia – On Monday (July 22), the Finance Minister, Guido Mantega, said that the fiscal adjustment made by the government will correspond to R$ 10 billion in the 2013 budget. This amount will be added to the R$ 28 billion contingency which was implemented at the beginning of the year. “The goal of these measures is to improve the quality of public spending, strengthen the fiscal result of the Central Government and make the measures to achieve the desired fiscal result clearer and more transparent,” said Mantega.
The statement was made in the Ministry of Planning Auditorium during the announcement of the decree for budget reprogramming in the third quarter of the year and was attended by the Planning Minister, Miriam Belchior. “The primary surplus is guaranteed with a contingency of R$ 28 billion and we are increasing this by R$ 10 billion,” he said. “We are making an additional increase to pursue a more satisfactory fiscal result,” Mantega concluded.
The Finance Minister further added that the measures will contribute to the implementation of the responsibility pact made by the government. According to Mantega, the reduction in spending will allow for the creation of an additional reserve for possible lower surpluses from state and municipal governments.