Fin Min Talks Up 'Harmony' Between Gov't Branches After Fitch Upgrade

Wires carrying comments from Brazilian Finance Minister Fernando Haddad following earlier upgrade by Fitch to BB (see here). Haddad: 'I still believe that harmony between branches [of gov't] is the way for us to regain investment grade.' Says that the Finance Ministry will 'send Congress a set of measures to guarantee fiscal balance in 2024 along with the budget bill.'

• Haddad: 'If we set the pace in politics with dialogue, we will grow again with social, environmental and fiscal sustainability [...] Environmental measures are ready to be presented in the coming months towards a green neo-industrialisation.'
• President of the Chamber of Deputies Arthur Lira, from the opposition centre-right Progressives, states that the Fitch upgrade is 'an important achievement' for the Brazilian economy. States that the gov'ts economic policy 'has been receiving full institutional support from the lower house, and that the chamber 'will not fail to fulfil its role', and that it 'supports all measures [that are] in the country's interest.'
• The 'harmony' spoken of by Haddad likely refers to the landmark passage of tax reform legislation in the lower house earlier in July. Brazil's opaque and complicated tax system has been seen for decades as a drag on the country's business environment, but leftist President Luiz Inacio Lula da Silva's administration has been able to reach bipartisan agreements to push the constitution-amending legislation forward. It now faces two further votes in the Senate.