Paulo Guedes Announces 143.4 Billion Reais in Emergency Help Against Coronavirus
Brazilian government announced the injection this week
According to specialists this decision will be essential for the Economy to continue running as best as it can. The money that will be injected in the Economy will reach up to 143.4 Billion Reais for the nest 3 Months. Part of the resources are coming from deployments for emergencies, credit lines and front-loading of expenditures. According to the Ministers responsible for the Official declarations the emergency expenses won’t affect other fiscal spaces essential for the State budget.
The Brazilian Economy Minister promised 83.4 billion Reais to help the most vulnerable population
From this amount, 59.4 billion will be available for helping Companies keeping jobs during the quarantine period. And 4.5 billion will be directly enrolled in the response against the pandemic in Brazil. According to Paulo Guedes, during the conference talking about the latest measures:
We will take of the elder. We have already announced 23 billion Reais in April and more 23 to May and we will also anticipate allowances to June (12 billion Reais)”.
The Brazilian Minister said also that 3 among the 19 proposals proceeding in the National Congress will be considered priority. Lets check ahead the most important proposals considered by the Brazilian Government:
- The fist one is the proposal for amendments related to the Constitution that decentralizes resources of the Union to States and Municipalities.
- Second one: the approval of the proposed bill that will sanction the privatization of Petrobras planned to yield 16 million to the Brazilian Government, this year.
- The third One considered very urgent to Paulo Guedes is the Fiscal Balance Plan, which is a help plan for States that are considered in relatively good fiscal condition.
135 billion Brazilian Reais will already be available this Week
Between the decisions that have already came into effect, the liberation of the amount will be compulsory. The deposits will be made through deposits in the Central Bank. Measures will also be taken by the National Monetary Council to support renegotiation of debts for families and also Companies. Last Week the Government also announced the anticipation of the thirteenth bonus salary to retired people which are the population that are mostly affected right now by the coronavirus pandemic.
Patrimony of workers who passed away will be used
This is another emergency measure that will be taken as a way to address the difficulties caused by the unprecedented pandemic. But not only that; other measures are also in effect already. The Brazilian Government didn’t waste any time and also took more providence related to protecting our economy; and will discharge the contribution of businesses for the next 3 Months.
In this article we talked about some of the measures taken by the Brazilian Government in order to protect the Brazilian Economy, since the Country has stopped because of the covid-19 pandemic. Did you like the information we shared in this article. Don’t forget to like our post and share it with all your friends that are interested in our Brazilian latest economical news!