Tax has improved and reasons for high interest rates are varied, says Durigan to CNN

The Minister of Finance, Dario Durigan, stated, this Thursday (21), that the fiscal scenario has improved and the reasons for the high interest rates in the country are varied.

In an interview with CNN Brasil, the minister said that fiscal is not the explanation for the current level of interest rates.

According to him, issues such as interest and exchange rate differentials, public and private savings and a historical issue generate structural pressure for a higher rate.

"There is no correlation [of interest] with the tax rate in the way it is put. We deceive those who watch us by saying that only the tax accountant explains this high interest rate in Brazil. It is one of the factors", stated Durigan.

According to the minister, the tax rate has improved over time, which does not necessarily mean that Brazil should have a lower interest rate.

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Source: CNN