Brazil's Lula says fiscal deficit to shrink with higher revenues, lower rates

BY Reuters | ECONOMIC | 06/12/24 09:24 AM EDT

June 12 (Reuters) - Brazil's President Luiz Inacio Lula da Silva said on Wednesday that the country's fiscal deficit reduction will be achieved through increased revenues and lower borrowing costs, without affecting public investments.

"We are getting our house in order and putting public finances in check to ensure fiscal balance," he said at an event hosted by the FII Institute in Rio de Janeiro.

"Increased revenue collection and lower interest rates will allow for deficit reduction without undermining public investment capacity." (Reporting by Lisandra Paraguassu and Marcela Ayres; editing by Gabriel Araujo)

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