Haddad Says Brazil Is on Track for Best Fiscal Result Since 2015, Lowest Four-Year Inflation

The finance minister used the Reforma Casa Brasil launch to argue that fiscal consolidation comes from curbing corporate perks rather than social outlays.

Overview

Haddad made the remarks on Oct. 20 at the Palácio do Planalto during the Reforma Casa Brasil launch alongside President Luiz Inácio Lula da Silva.
He said the government will deliver the best fiscal result since 2015 by the end of Lula’s current term, presenting it as a product of the existing policy mix.
He argued the adjustment comes from reducing what he called the “Bolsa Empresário” and by bringing previously untaxed sectors into the tax base.
He cited projections indicating cumulative inflation of 19.73% for 2023–2026 based on the Central Bank’s Focus survey, which would be the lowest four-year reading since the Real Plan and below Lula’s previous record.
He also projected the lowest four-year unemployment rate in IBGE’s series with unprecedented wage-mass growth, while pushing back on financial-market criticism of the pace of fiscal adjustment.