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Financial News: BRAZIL: More Economic Reforms Are Necessary, Says Central

BRAZIL: More Economic Reforms Are Necessary, Says Central Bank Governor

12/19/2017 - 19:44:00 (RTTNews)

(RTTNews) - This was a productive year for Brazil, with considerable progress in the macroeconomic environment, said Ilan Goldfajn, the governor of the Brazilian central bank, during a speech. He noted that the world economic scenario was significant for Brazil this year.

Goldfajn highlighted that the annual inflation in the country fell from 10.7% at the end of 2015 to 2.8% last month. That, together with lower interest rates and the economic recovery, were the drivers of a profitable year.

However, the central bank's governor noted that "not everything will remain favorable forever. The international scenario is benign, but we can not count on this situation perpetually."

For the economic scenario to remain favorable, Goldfajn names adjustments and reforms, "in particular the pension reform," as important issues to balance the economy. Those are factors "with favorable consequences for the disinflation, the fall of the structural interest rate and the sustainable recovery of the Brazilian economy," he said.

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