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BRASILIA (Reuters) - Brazil will extend pandemic emergency cash transfers to the poor and vulnerable, Economy Minister Paulo Guedes said on Thursday, but added that the payments must come with compensating cost-cutting measures to avoid ruin to the public finances.
FILE PHOTO: Brazil s Economy Minister Paulo Guedes reacts before a ceremony at the Planalto Palace in Brasilia, Brazil January 12, 2021. REUTERS/Adriano Machado
Addressing an online event hosted by the National Agriculture Society, Guedes said the aid must be included in an emergency ‘war budget’ like last year, meaning the government’s spending cap and ‘golden rule’ on borrowing would not be broken.
Brazil markets plunge as Bolsonaro shakes up Petrobras to cut energy costs reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Brazilian financial markets went into a tailspin on Monday, as investors dumped the country's currency and stocks, while pushing up interest rates, after President Jair Bolsonaro moved late on Friday to sack the head of state-run oil firm Petrobras following weeks of clashes.