June 1, 2020 / 3:06 PM / a month ago

Brazil cannot rely on foreign funding in short term - cenbank chief

BRASILIA, June 1 (Reuters) - Brazil cannot rely on foreign financing in the short term, central bank president Roberto Campos Neto said on Monday, citing the recent record capital outflow as the coronavirus crisis and investor jitters intensified.

In testimony to lawmakers, Campos Neto also said he expects the economic recovery to begin in the third quarter although some parts of the services sector will take longer, and warned that emergency government spending must not be allowed to become permanent.

Reporting by Jamie McGeever Editing by Chizu Nomiyama

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