Brazil's Finance Minister Dario Durigan said concerns about the country's growing public debt are justified, and that investors have legitimate questions about the government's spending trajectory that need to be addressed, Bloomberg News reported Monday.

"What the market is asking today, with some justification, is how will the trajectory for mandatory spending and debt be from now on," Durigan said in an interview with Bloomberg. "I say this myself, without dodging the issue: We need to address it."

Durigan said fiscal policy is the main lever available to the government to bring down Brazil's structurally high interest rates, though election uncertainty is also a factor, the report said.