Bolsonaro's economist plans to deepen the spending cap and privatize.

247 – Paulo Guedes, Bolsonaro's economist, is a staunch defender of the public spending cap implemented by the Temer/Meirelles government with the help of Congress. Guedes not only defends the cuts, but promises to deepen them: "I'm putting a ceiling on all my expenses. Financial expenses too. I don't want to spend more than R$ 300 billion."

In an interview with the newspaper Valor, economist Paulo Guedes, responsible for the economic area of ​​presidential candidate Jair Bolsonaro's (PSL) government program, lists his proposals for Brazil. Verbose and lacking in technical expertise for someone who calls himself an economist, Guedes displays a rudimentary and emotional understanding of the Brazilian economy, managing to be more radical than the current coup government and achieving the feat of being "restrained" by Bolsonaro in his privatization and "contingency" zeal.

Read excerpts from the interview Guedes gave to the newspaper Valor:

"I would say that the characteristic of our conversation is absolute frankness. He is a very frank person. I am too. So at various points he turns and says: “Paulo, this might even be important, but we have to see if Congress approves it.” It's interesting, because you can have a constructive or negative interpretation. The constructive one is: are they afraid of a democrat? The guy says: “Will Congress approve it?” Or the negative one, which says: “Hey, you guys are disagreeing.” I, an economist, have a diagnosis. I think the reforms have to happen. He is increasingly aware of the urgency of this agenda. Social security, tax reform, fiscal reform. And there are, indeed, considerations on both sides. “Look, it's not the way economists imagine, an ideal world where everything is done; there's Congress.” I say: “Of course, of course. But it's also not the way politicians imagine, who will continue postponing unavoidable adjustments.” There was no ill feeling. There is frankness.

(…)

It's obvious that he, as a congressman in a plundered country, thought his mandate was to protect those who voted for him. It's natural. I'm not saying it's right. It's understandable. Just as it's understandable that Fernando Henrique prioritized his reelection over pension reform. Just as it's understandable that Temer prioritized shielding himself over pension reform. Now, when he receives the presidential mandate, he has to change. Then you say: "How is that going to be done?"

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