Latest news with #BolsaFamilia
Reuters
15-05-2025
- Business
- Reuters
Brazil's finance minister signals upcoming fiscal measures, rules out 'Bolsa Familia' hike
BRASILIA, May 15 (Reuters) - Brazil's Finance Minister said on Thursday that the government is preparing measures to help meet this year's fiscal target, and denied any plans to increase monthly payments under the "Bolsa Familia" cash transfer program for low-income families. Speaking to reporters in Brasilia, Fernando Haddad said the measures under consideration are targeted, not part of a broader package, and will be discussed with President Luiz Inacio Lula da Silva next week. "It is not even possible to call it a package, because they are specific measures, none of them are of large-scale," Haddad said. "They are aimed exclusively at meeting the fiscal target." The government is expected to release on May 22 its first budget report of the year, tracking revenues and expenditures. The report must outline any necessary measures to meet the fiscal target of eliminating the primary deficit this year, if current projections fall short of that goal. Haddad also said there is no plan within the government to raise payments of the "Bolsa Familia" benefit, echoing remarks made by Social Developing Minister Wellington Dias late on Wednesday. Local magazine Veja reported on Wednesday that the Social Development Ministry was readying a proposal to increase monthly the monthly payments to 700 reais ($124.17) next year, up from the current 600 reais. The outlet reaffirmed the report on Thursday. The Brazilian real briefly narrowed losses against the U.S. dollar in spot trading during Haddad's remarks, but resumed a negative path right after, weakening over 1% to about 5.69 per greenback. Haddad also noted that a planned measure to support app-based delivery workers is still under development and does not yet have a final design.
Reuters
20-03-2025
- Business
- Reuters
Brazil's 2025 budget bill sees higher surplus in lawmaker's revision
BRASILIA, March 20 (Reuters) - Brazil's budget bill now foresees a primary surplus of 15 billion reais ($2.66 billion) for the central government this year, a version presented early on Thursday by its sponsor in Congress showed, up from the 3.7 billion reais proposed by the government. The text by Senator Angelo Coronel, set to be voted on later on Thursday in a joint budget committee before heading to a full congressional session, states that revenue projections were revised upward, leading to an improved primary balance forecast. President Luiz Inacio Lula da Silva passed a new fiscal framework in 2023, his first year in office, which combines a primary balance target with a cap limiting spending growth to up to 2.5% above inflation. For this year, the target is a zero primary deficit, with a margin of 0.25% of gross domestic product (GDP), meaning the government can post a deficit of 30.9 billion reais and still comply with the rule. The senator said he incorporated changes requested by the federal government, including higher spending on social security benefits and a reduction in expenditures on the Bolsa Familia welfare program, which provides monthly cash transfers. Traditionally, the annual budget bill is approved before the end of the preceding year. This year's significant delay underscores the challenges faced by Lula's leftist administration in its relationship with Congress. ($1 = 5.6486 reais)
Reuters
12-03-2025
- Business
- Reuters
Brazil seeks to reallocate nearly $6.9 bln in 2025 budget
BRASILIA, March 12 (Reuters) - Brazil's government has asked Congress to approve a nearly 40 billion reais ($6.9 billion) budget reallocation, boosting spending on pensions while cutting funds for the popular Bolsa Familia cash transfer program. In a letter to Congress' budget committee, Planning Minister Simone Tebet said the changes reflect shifting priorities and new needs. The government added 39.6 billion reais in spending while making equivalent cuts elsewhere. Congress typically approves the annual budget in the preceding year, but this year's budget bill has yet to receive lawmakers' approval. While cutting 7.7 billion reais from Bolsa Familia, the government proposed an 8.3 billion reais increase in pension benefits. Among other changes, it also allocated an additional 3 billion reais to a cooking gas subsidy for low-income families after facing criticism last year for initially planning to fund the program through offshore oil revenues channeled via state lender Caixa Economica Federal, bypassing the primary budget. But the government did not add extra funds to financially reward low-income high school students under a program aimed at keeping them at school, known as Pe de Meia, which President Luiz Inacio Lula da Silva has been promoting as a flagship initiative following a sharp decline in his approval ratings. Brazil's federal audit court recently ruled the government has 120 days to integrate the program into the budget after it initially sought to finance it through an off-budget fund, a move critics also called creative accounting to enable more spending. Latin America's largest economy is targeting a balanced primary budget this year, with a tolerance margin of 0.25% of gross domestic product (GDP), allowing for a deficit of up to 30.9 billion reais.
Yahoo
07-02-2025
- Business
- Yahoo
Brazil minister says adjustment of Bolsa Familia welfare program is 'on the table,'
SAO PAULO (Reuters) - The Brazilian minister of social development told news outlet DW that a potential adjustment to the country's cash transfer program Bolsa Familia is "on the table," according to an interview published on Friday. Minister Wellington Dias said discussion on the matter comes as food prices have been rising in Latin America's largest economy and a decision would be made by March, according to the interview. The Finance Ministry did not immediately respond to a request for comment sent by Reuters. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Bolsa Familia, a more than 20-year-old program, provides direct cash transfers to the poorest households at an annual cost of 166.3 billion reais ($28.7 billion) estimated for this year. It reaches around 20.5 million families with an average monthly benefit of about 674 reais, according to January data. A readjustment would come as President Luiz Inacio Lula da Silva voices concerns over rising food prices in Brazil amid a decline of his popularity. ($1 = 5.7927 reais)
Reuters
07-02-2025
- Business
- Reuters
Brazil minister says adjustment of Bolsa Familia welfare program is 'on the table,'
SAO PAULO, Feb 7 (Reuters) - The Brazilian minister of social development told news outlet DW that a potential adjustment to the country's cash transfer program Bolsa Familia is "on the table," according to an interview published on Friday. Minister Wellington Dias said discussion on the matter comes as food prices have been rising in Latin America's largest economy and a decision would be made by March, according to the interview. The Finance Ministry did not immediately respond to a request for comment sent by Reuters. Bolsa Familia, a more than 20-year-old program, provides direct cash transfers to the poorest households at an annual cost of 166.3 billion reais ($28.7 billion) estimated for this year. It reaches around 20.5 million families with an average monthly benefit of about 674 reais, according to January data. A readjustment would come as President Luiz Inacio Lula da Silva voices concerns over rising food prices in Brazil amid a decline of his popularity. ($1 = 5.7927 reais)
