The government announced last week that
Joaquim Levy would step down as finance minister and would be replaced
by Nelson Barbosa, the planning and budget minister.
Valdir Simao will replace Barbosa, Xinhua reported.
In the inauguration ceremony on Monday,
President Dilma Rousseff, who is battling the opening of impeachment
proceedings in Congress, thanked Levy for his efforts to carry out the
fiscal adjustments and praised his dedication, despite his failure to
achieve his goal of rebalancing the public finances.
“His dedication and efforts helped the fiscal regulations despite an environment of political crisis,” Rousseff said.
“Joaquim Levy revealed a great capacity of acting with serenity and efficiency even when under great pressure.”
The President said ministers Barbosa and
Simao now have the responsibility of convincing the Brazilian people
that fiscal balance and economic growth can walk hand in hand, and
ensuring the resumption of economic growth without resorting to sharp
changes.
“They both have more than enough
experience and competence. They know the public administration and
participated in most priority projects we implemented over the past few
years,” Rousseff said.
