Levy Named as Brazil Finance Minister to Boost Confidence
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Banco Bradesco SA executive Joaquim Levy pledged to fortify Brazil’s fiscal accounts after being appointed as finance minister by President Dilma Rousseff, who did not attend the announcement.
Levy, head of asset management at Bradesco, Latin America’s second-largest bank, said he will target a primary budget surplus, after interest payments, of 2 percent of gross domestic product in 2016 and 2017. The former Treasury secretary said he will aim for a primary surplus of 1.2 percent next year, adding that fiscal accounts will have transparency.