Tax & Spend
Brazil Unlikely to Hit 2024 Zero-Deficit Target, Lula Says
- Government has pledged to eliminate primary deficit next year
- Balanced budget is key priority for Finance Minister Haddad
Luiz Inacio Lula da Silva
Photographer: Andressa Anholete/BloombergThis article is for subscribers only.
Brazil President Luiz Inacio Lula da Silva cast doubt on his government’s ability to hit its own zero-deficit target next year, saying he would not cut spending on priority projects to reach a goal he considers unnecessary.
The government will not “establish a fiscal target that requires us to start the year by cutting billions from projects that are priorities for this country,” Lula told reporters Friday in Brasilia.