though he did not provide specific figures.

Durigan made these remarks in an interview with the local news agency Broadcast, following a sell-off in Brazilian markets that occurred after the election of leftist President Luiz Inácio Lula da Silva.

The Finance Minister announced that the government plans to submit a bill to Congress that would require authorities to officially target the midpoint of the primary budget balance goal. This proposal is set to be presented this year.

Durigan also discussed plans to hold talks on revising the scale of budget allocations determined by Congress, addressing excessively high public-sector salaries, and reforming special pension regimes.

The Finance Minister added that the central bank would intervene in the foreign exchange market if necessary.