BRASILIA, June 17 (Reuters) – Brazil’s government backs a rural debt renegotiation program but wants it more targeted, the Finance Ministry said on Wednesday.
Speaking at a congressional hearing after the Senate approved a sweeping aid bill offering subsidized credit to the sector, Finance Minister Dario Durigan said the government aims to be “constructive” to curb the proposal’s fiscal cost.
The current bill implies about 140 billion reais ($27.68 billion) in Treasury subsidies over 13 years, he said, which the government sees as excessive as it covers a broad range of cases beyond climate shocks, including general economic difficulties.
The bill now moves to the lower house.
Durigan added that 95% of…