Haddad presented the general outline of the new fiscal framework, VP Alckmin criticized the high interest rate in the country, and a reduction in the payroll loan interest rates had the opposite effect

BRAZIL POLITICS - Report 21 Mar 2023 by Murillo de Aragão and Cristiano Noronha

Haddad said he fulfilled the presentation schedule for the leaders of the House and Senate, in addition to the presidents of both houses. Both Pacheco and Arthur Lira have reportedly welcomed the proposal. Vice President Geraldo Alckmin said that an interest rate of 8% above inflation hampers consumption, delays investments, and burdens the tax authorities. He said he believes it is common sense that "we are going to have a reduction in the interest rate." It was agreed that the interest on payroll loans for retirees and pensioners would be reduced from 2.14% per month to the 1.70% announced last week by the Ministry of Labor and Pension. However, instead of encouraging the granting of credit, banks suspended loans for pensioners.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.