Mourão downplays economic downturn and says year-end results "may not be so negative"
"The indicators are gradually demonstrating our recovery. By the end of the year, the result may not be as negative as we were expecting," said Vice President General Hamilton Mourão.
Lisandra Paraguassu, Reuters Vice President Hamilton stated on Wednesday that indicators are beginning to show a recovery in the country's economy, and Brazil may end the year with a less negative result than initially predicted, given the impacts of the coronavirus pandemic.
According to the vice president, who spoke at the opening of the Amazon Council meeting, the coronavirus epidemic forced the country to redirect resources to the health sector, which increased the projected deficit.
“We are going to end the year with a rather high fiscal deficit, much higher than we had anticipated. But, on the other hand, we know the strength of our country, the capacity for recovery that we have, and the indicators are gradually demonstrating our recovery. They may show, by the end of the year, a result that is not as negative as we were expecting,” he stated.
Mourão also said that the country is experiencing "a moment of pressure" regarding deforestation and fires in the Amazon, but that the government has made it clear that it is committed "to not allowing these illegal activities to prosper."
This week, the vice president, who coordinates the Amazon Council, admitted that the work of the Law and Order Guarantee Operation (GLO) authorized in May for the Amazon will not have an impact on reducing deforestation numbers this year, and should have been started earlier.