BTG Pactual's Esteves calls Brazil's tax-exempt volume 'absurd', urges fiscal balance

André Esteves, chairman of BTG Pactual, publicly criticized Brazil's volume of tax-exempt instruments as 'completely absurd' and framed fiscal adjustment as a non-partisan societal responsibility. His remarks signal elite financial-sector pressure on the government to address fiscal imbalances, though no concrete policy change is announced. The statement may influence market sentiment on Brazil's fiscal trajectory.