Golden Rule

Special Secretary of Finance says that measure is essential for fiscal balance

The National Congress approved on Tuesday (June 11) the additional credit of R $ 248.9 billion requested by the Executive Power to pay its current expenses and avoid non-compliance with the rule of another.

The Special Secretary of Finance of the Ministry of Economy, Waldery Rodrigues, said that approval of PLN 4 will guarantee the execution of the expenses of five programs that could have difficulty of payment in the very short term: economic subsidies for agriculture (family, costing and agricultural investment, stock investment financing), investment and reconstruction of municipalities affected by natural disasters, BPC (Continuous Benefit Benefit), Family Allowance, monthly life annuity and social security benefits of the General Social Security Fund.

"The approval of PLN 4 removes an uncertainty that was hovering in the current framework and allows us to move towards measures that bring security to the country," commented the secretary. "With the authorization of Congress, we are allowed to continue with the budget execution without any operational breakdown," he added.

Waldery Rodrigues explained that since 2014 the Central Government has recorded a negative primary result, leading the Executive to appeal to Congress to request the approval of supplementary credit. "In 2019 we will have the sixth consecutive year of primary deficit. Failure to approve the loan could lead to non-compliance with the golden rule. Therefore, approval is very important and essential for our fiscal balance. "