Former minister Sachsida says that Flávio Bolsonaro's government will stabilize fiscal in 1 and a half years

Former Minister of Mines and Energy, Adolfo Sachsida, said that Senator Flávio Bolsonaro's (PL) team is preparing measures to deregulate and reduce bureaucracy in economic sectors to increase productivity in Brazil.

Sachsida, who is part of the economic team that advises Flávio's campaign, participated this Thursday (3) in a lunch promoted by Grupo Voto, a business diplomacy and political dialogue company, in São Paulo.

The former minister of Jair Bolsonaro (PL) stated that deregulation, debureaucratization and digitalization of the economy are necessary to unlock the country's growth in the short term and increase productivity.

He also said that, if Flávio Bolsonaro wins the elections, the senator's government will "stabilize the fiscal side of the Brazilian economy" in 1 and a half years.

"Unfortunately, the losses at state-owned companies were so big, government spending was so big, the bill for this irresponsibility that generated such high interest rates is very big. It turns out that you [a possible government of Flávio Bolsonaro] will have a year and a half to correct this. That's what's urgent," Sachsida told an audience of businesspeople.

Sachsida said that the strategy to be used is the establishment of a spending ceiling based on the relationship between gross debt and GDP (Gross Domestic Product). "With this ceiling, we will work with the National Congress to approve the necessary measures to put Brazil on a sustainable growth path," he said.

The former minister said he preferred not to give details about what measures would be adopted and what budget cuts would be made by a possible Flávio Bolsonaro government.

"We have to put our house in order, but, with God's grace and a very solid economic plan, in 1 and a half years we will put the fiscal side in order and prepare Brazil for a great trajectory of sustainable growth," he said.

Sachsida also defended oil exploration on the Brazilian equatorial margin. In August, Petrobras announced that it had identified the presence of hydrocarbons in an exploratory well in the Foz do Amazonas sedimentary basin, in ultra-deep waters off the coast of Amapá.

Confirmation still depends on tests, but members of the state-owned company say the probability that it is oil is high.

"The equatorial margin is already explored today by Guyana. If there is an environmental problem, Brazil will already pay the bill. The only decision that is up to Brazil is whether we will be part of the benefits or if we will bear the costs. Guyana already explores the equatorial margin, it seems reasonable to me for Brazil to explore the equatorial margin", he said.