MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Goldman Sachs on Announced Fiscal Measures

BRAZIL
  • The announced package leans heavily on revenue measures and the spending side measures are underwhelming. Finance minister Haddad stressed the need to coordinate fiscal and monetary policies and underscored that the economy has been decelerating since August.
  • Haddad also stated that credit is key to “restart the economy”. Openly criticising the central bank, the minister stated that the tightening cycle “messed up the credit system”.
  • Overall, the government seems keen on limiting the projected increase in the budget deficit in 2023. That is positive, but the authorities continue to show some reluctance to embrace meaningful permanent cuts in current spending (including costly poorly targeted tax exemptions/subsidies) and to openly recognize the need to achieve a primary fiscal surplus of roughly 2% of GDP to stabilize the public debt dynamics.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.