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Economy Minister Paulo Guedes at a press conference (Photo: Isac Nóbrega / PR)
Economy Minister Paulo Guedes argued that Brazil is cheap for foreign investors and emphasized that the “gringos” who enter Brazil at this moment, with the dollar approaching 5.50 BRL, may leave with the R $ 3 currency in “two or three years”.
At an event at BTG Bank, Guedes said he is less involved Road shows With more investors than previous ministers, but he said the country “definitely” will move into the markets. “First, you have to work and then sell Brazil,” he added, referring to the reforms it intends to administer.
The minister went on to say that the account of the coronavirus pandemic cannot be left to future generations. “We will not throw debt from the epidemic to 100% of GDP,” he added.
At the beginning of his speech, Guedes said he wanted to “congratulate all the economists who were already part of the government”. “Before joining the government, I thought everything was very easy, and it wasn’t quite so,” said the minister jokingly, who held the position for two years and five months and had already had tough negotiations with the National Congress.
Collect and predict deficits
Geddes also said that with successively positive results in tax collection, the government is revising its general deficit projections for this year. The deficit was expected to reach 280 billion Brazilian reals two weeks ago. The group was so formidable that we are already reviewing it for 180 billion reais, “he commented.
He also emphasized that investments in infrastructure are necessary for Brazil to integrate with Latin America, but returned to say that the country cannot be trapped in Mercosur.
Brazil should be the anchor for the big investments and move production to Latin America. We will not stumble in the area, it was a mistake, Mercosur imprisoned us, ”the minister added.
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