Brazil will take no exceptional measures to boost economic growth, official says

SAO PAULO/BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva's chief of staff said on Wednesday that the government will take no exceptional measure to boost economic growth, and reaffirmed its commitment to the country's fiscal framework.

"There will be no exceptional measure to boost economic growth. The economy will grow based on what is already contracted," Rui Costa told an event hosted by investment bank BTG Pactual.

Rui Costa also voiced optimism about the Brazilian currency and noted that the government would take necessary measures to meet the country's fiscal rules.

Rui Costa's comments come hours after Labor Minister Luiz Marinho had said fresh measures to support the economy were possible, though this would not be his ministry's responsibility.

Marinho's comments came after Brazil released stronger than expected data for formal job creation in January, despite recent economic indicators pointing to a slowdown.

Brazil's government earlier this month cut its 2025 economic growth forecast to 2.3% from 2.5%, amid tightening monetary policy that has brought the benchmark interest rates to 13.25%.

That would mark a slowdown from the estimated 3.5% economic growth for 2024. Official GDP data is set to be released early March.

(Reporting by Gabriel Araujo in Sao Paulo and Maria Carolina Marcello in Brasilia; Writing by Isabel Teles; Editing by Sarah Morland)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Indian food safety officer shakes up Mumbai, one viral raid at a time
• Zelenskiy says Ukraine not behind Nord Stream blasts, cooperating with probe
• Soccer-UEFA's Ceferin says Infantino could face election challenger, rules out FIFA bid