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The Brazilian Government Has Set Economical Measures In Order To Reduce Covid-19 Impact

Brazilian Minister of Economy, Paulo Guedes, announced measures to protect Brazilians

The Brazilian Government announced that there will be vouchers available during three Months to the informal workers. This decision will cost 15 billion to the Public Brazilian coffers. The objective of this measure is to support vulnerable people that might be affected by the coronavirus pandemic.

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Paulo Guedes will create a Social Help urgent program to provide 200 Brazilian Reais per month to vulnerable people.


The Social Benefit will be distributed starting next Week

Vouchers will be distributed to people who are already subscribed to the Social Programs that the Government already has. Those vouchers will be available by next Week to those people considered to be more vulnerable because of the Economical affect that the current pandemic is having over our Economy. Another important thing is that this Benefit will be available to susceptible families that are not already receiving one of the Social Benefits already.

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The measures are directed to reduce the economical impact of the Covid-19 pandemic in the Brazilian economical system.

Occupational measures will be about 37 according to the National Industry Confederation

Between those proposals reduction in the work hours and also in salaries are contemplated. New rules related to financing, unemployment insurance, monetary policies and laws. Let’s check some of them that might be important for you to know:

  • Measures related to the taxation regime will include postponement of Federal Tributes, temporary reduction of power supply rates and also 90 days of suspension for liabilities in accounts receivable.
  • Monetary Policy changes during Covid-19 pandemic will include security deposits reduction, also a reduction of the base rate of interests; that were already relatively low compared to other administrations in Brazil.
  • Medications will also have a reduction in prices, for the factory price. There will also be a temporary suspension of registration fees with the Federal regulatory agencies.
  • The labor legislation will change the work hours and also salaries; the bank of hours will be increased for some staff depending on the kind of business you are in. Employment insurance will also be contemplated and facilitated for people to be able to get on their feet if they lose their job.

There are many more measures that are already included in the 37 points announced by the Government. We will check how this will impact our already changing Brazilian long-established sectors on the long run!

Conclusion

So far, things are not so visible in terms of how many and how deep some Companies in Brazil will be affected. But for sure it will have some impact on our Economy and this might be unprecedented. We will have to wait for the next two Weeks to be really able to see the damage that the pandemic will have on the already fragile Brazilian economic system. Did you like the information we shared here in this article? Don’t forget to share our content with all your friends on Social Media! Ewaider & Co is always sending updated topics related to Brazilian Economy, Politics and Businesses.