BRASILIA - Brazil’s government on Monday detailed how it would pay for a new minimum income program called Renda Cidada, with President Jair Bolsonaro and Economy Minister Paulo Guedes still pledging to honor the country’s spending cap and fiscal rules.
At the same meeting, Guedes said the aim was for the new program to begin on Jan. 1, just as emergency pandemic payments to the poor are set to end. Renda Cidada is a new version of a planned social welfare programme called Renda Brasil that Bolsonaro cancelled earlier this month after it received waves of bad press over a two-year freeze on pensions and payments for disabled people. Guedes said the policy had been misrepresented and he had never called on cuts for the poor, sick or vulnerable.
“This would put the federal government in the same situation as local states and municipalities: accumulation of unpaid debt,” said a senior trader at a bank in Sao Paulo, speaking on condition of anonymity.
👏👏
Mira noesmeteoro
This guys looks 🙇♂️
It is not new, as the article describes almost correctly. He is changing the name. Removing some other programs to fund this one. Need to wait the final regulation. Fearing Lula will be able to be a candidate, he wants to fight in the same territory.
Taking money from education and defaulting!
Ah, right wing economic populism, this always goes well