Brazil’s Lula says government is committed to fiscal responsibility

(Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Wednesday that fiscal responsibility is a commitment to be strictly followed in his administration, although he assured the government will keep its cash transference policies.

Brazilian assets suffered a sell-off in recent weeks as markets fear fiscal deterioration amid the government’s reluctance to cut spending, which has raised doubts about its ability to reach its goal of eliminating the primary deficit this year.

(Reporting by Luana Maria Benedito)