Brazil to grant fuel relief to 750,000 truckers, Bolsonaro says By Reuters

© Reuters. A truck passes a gasoline station close to BR-040 freeway, through the truckers’ protest in assist of Brazilian President Jair Bolsonaro in Valparaiso de Goias, Goias State, Brazil September 9, 2021. REUTERS/Adriano Machado/Recordsdata

BRASILIA/SAO PAULO (Reuters) – Brazilian President Jair Bolsonaro stated on Thursday that his authorities has determined to grant about 750,000 truckers gasoline aid to offset value rises, just a few hours after repeating {that a} deliberate new welfare program is not going to breach a constitutional spending cap.

His remarks on aiding truckers spooked buyers who already feared that authorities spending on the brand new ‘Auxilio Brasil’ welfare program would widen its price range deficit.

The Brazilian actual prolonged losses towards the U.S. greenback after Bolsonaro’s feedback, plunging greater than 2%, whereas the inventory index was down greater than 4%.

Bolsonaro had instructed an viewers earlier within the day that his authorities determined to boost Brazil’s welfare program funds to no less than 400 reais ($70) per thirty days for about 17 million households, however would do it in a “accountable” method.

Financial system Minister Paulo Guedes stated on Wednesday that the federal government was contemplating in search of a 30 billion reais ($5.3 billion) waiver to the constitutional spending ceiling.

($1 = 5.6774 reais)

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