As the federal government discusses the possibility of changing the budget target in 2024, economists gathered in Belo Horizonte showed that the discussion should be different.
Joaquim Levy, former finance minister, defended spending discipline. Bruno Funchal, CEO of Bradesco Asset, recalled the quality of spending. Tiago Berriel, partner and chief strategist at BTG Pactual Asset, recalled the possibility of reducing expenses.
The three economists spoke at the 3rd Fundação Libertas Seminar on Investments, Risks and Compliance, organized in the capital of Minas Gerais.
Former minister Joaquim Levy argued that the most important thing in budgetary matters was to guarantee the quality of public spending.
“It is necessary to demonstrate discipline to face budgetary challenges, while maintaining dialogue with society. To achieve this, it must grow by at least 2.5% per year. We are going to do it through the private sector and that is why we must create the conditions so that the private sector can be effective. For this, the approval of the tax reform is essential. We have talent, natural resources and we must create the conditions for the growth of the private sector,” he said.
Bruno Funchal, CEO of Bradesco Asset, believes that improving the quality of spending is the biggest challenge.
“We have made progress on important points, such as the new tax framework and the approval of tax reform. A simpler tax model will bring a huge gain in productivity and will therefore end up having an impact on the tax issue,” he said.
Tiago Berriel, partner and chief economist at BTG Pactual Asset, stressed that the possibility of reducing expenses must be remembered.
“For me, it is not certain that the government will be able to increase its revenues and it is not willing to plan for unforeseen circumstances. We therefore run the risk of finding ourselves without a budgetary anchor. It is necessary to question the solidity of the pillars of the budgetary framework – the spending rule and the primary growth objective,” he stressed.
According to the president of Libertas, Lucas Nóbrega, “the seminar, as soon as it takes place, will contribute to building more assertive investment policies for 2024, with a precise vision of the economic scenario to define the investments that will be made during the year. the next years “.
Integrity in football
Another expected panel was that of integrity and ethics in football, with the presence of Dower Araújo, CEO of América Futebol Clube; Cruzeiro management advisor Tiago Fantini and Clube Atlético Mineiro compliance manager Fernando Monfardini.
“We talk a lot about the issue of new investment, the growth of the club, but we have to look beyond that. It’s not just about the investment that the investor is looking for, it’s about taking on a historical, social or technical role,” Monfardini said.
The 3rd Fundação Libertas Investments, Risks and Compliance Seminar continues this Thursday (9) and will address topics such as trends for investors on the global and national scene and the ESG agenda in the financial market.
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