By Reuters Staff
1 Min Read
BRASILIA, Feb 11 (Reuters) - Brazil’s government will extend emergency cash transfers to the poor and vulnerable, Economy Minister Paulo Guedes said on Thursday, but they must come with compensating cost-cutting measures or the public finances could be on the path to ruin.
Addressing an online event hosted by the National Agriculture Society, Guedes said the aid could 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. (Reporting by Gabriel Ponte and Jamie McGeever Editing by Chris Reese)
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BRASILIA, Feb 5 (Reuters) - Brazil may use any increase in federal tax revenues generated by a rebounding economy this year to pay for tax cuts, especially on fuel, rather than targeting it solely to reduce the budget deficit, Economy Minister Paulo Guedes said on Friday.
Speaking in a news conference alongside President Jair Bolsonaro, Guedes said such a move would still be consistent with the government’s commitment to getting public finances back on track after the deficit and debt blew out to record highs last year.
Guedes said the government is considering reducing levies on fuel and the electricity sector. He added that he would like fuel taxes to be cut before Brazil’s congress approves a wider tax reform bill, a process which could take six to eight months.
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BRASILIA Brazil may use any increase in federal tax revenues generated by a rebounding economy this year to pay for tax cuts, especially on fuel, rather than targeting it solely to reduce the budget deficit, Economy Minister Paulo Guedes said on Friday.
Speaking in a news conference alongside President Jair Bolsonaro, Guedes said such a move would still be consistent with the government’s commitment to getting public finances back on track after the deficit and debt blew out to record highs last year.
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FILE PHOTO: Senator Rodrigo Pacheco speaks during a senate session in Brasilia
SAO PAULO (Reuters) – Brazil’s new Senate leader said on Thursday he aims to approve tax reform in six to eight months and that he is working urgently to extend aid to millions of the country’s poorest and most vulnerable people.
Senate President Rodrigo Pacheco, chosen to lead the upper chamber on Monday, said he had requested a meeting with Economy Minister Paulo Guedes to discuss a new form of pandemic relief for the poor – a matter of “absolute urgency for Congress”.
His comments to journalists underscored the rising political pressure on Brazil’s government to extend stimulus measures that expired at the end of 2020.