The project of the second budgetary rectification establishes a large budgetary deficit, and the main factors that led to this result are permanent in nature and, therefore, difficult to correct, according to the Fiscal Council, which recommends credible measures of budgetary consolidation.

“The project of the second budgetary rectification establishes a large budgetary slippage, and the main factors that led to this result are permanent in nature and, therefore, difficult to correct. More (…), the balance of risks regarding at the new projection of the budget balance is slightly inclined on the negative side, meaning the recording of a higher budget deficit, having as possible sources of non-fulfillment in the level of non-fiscal revenues and exceeding the expenses of goods and services. Otherwise, the gov’t can act a reduction, compared to the level budget, of the investment expenses, given that the gap between the planned level and the execution to date is still relatively high,” shows the opinion of the Fiscal Council regarding the second budgetary rectification, according to Agerpres.

However, the Council draws attention to the fact that budgetary consolidation is not possible, given the current timetable for applying the new pension law and the current fiscal-budgetary policy coordinates.