The president Jair Bolsonaro called again this Saturday the financial market of “little nerves” and accused him of disturbing the Brazil “in everything”, amidst criticism from economic agents of his government’s attempts to circumvent the public spending ceiling to grant a temporary social benefit of 400 reais by the end of 2022, election year.
“The market has to understand that if Brazil is bad, they will also be bad. It seems like we are one team playing against the other, we are on the same team. The market, every time nervous, gets in the way of everything in Brazil”, Bolsonaro told journalists in Rome, where he participates in this weekend of meeting between the leaders of the G20, a group that brings together the largest economies in the world.
He once again defended the creation of a new social program to assist the vulnerable affected by the pandemic of Covid-19 and once again it exempted itself from responsibility for the current economic situation in Brazil.
“If you don’t serve 17 million poor people in Brazil, what can happen? We are trying to avoid that there”, he stated. “I didn’t negatively influence the economy, I didn’t close anything in Brazil,” he said.
the dollar has registered strong appreciation against the real and the reference index of the Brazilian stock market, the Ibovespa, has registered casualties in the face of government movements.
At the same time, future interest rates have risen, after government moves to approve in Parliament an early review of the public spending ceiling rule to make room for the creation of a new social program and a benefit of at least 400 reais until the end of the year. late 2022, the year in which Bolsonaro is expected to seek re-election.
In view of the threats to the current fiscal framework and in a scenario of rising inflation, financial institutions have revised downwards the growth forecasts for the Brazilian economy for this year and the next.
During a walk in Rome, Bolsonaro was the target of protesters who called him a “genocide” and shouted “Out Bolsonaro”, showed a video published by the website Metropolis in this Saturday.
4 investments proof against any political crisis in Brazil
It is possible to see that the political climate directly influences on your investments.
For that, we separate four types of investments that are proof of political crisis.
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
