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Brazil central banker says economic recovery depended on fiscal reforms

  • Deputy governor of Brazil’s central bank says economic recovery rests on successful implementation of fiscal reforms
  • Addressing OMFIF think tank in London, he stated that inflation was under control
  • Tiago Berriel also said that his bank’s financial buffers and strong policy framework would protect the economy

The Brazilian central bank’s deputy governor said today that the economy’s ability to recover from the current downturn to a large extent depended on fiscal reforms.

Speaking at the OMFIF think tank in the British capital, Tiago Berriel claimed that inflation was ‘under control’ and that the central bank’s financial buffers and strong policy framework would protect the country’s economy from setbacks and shocks.

Brazil’s economy contracted by 0.2% during the first three months of the year.