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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.
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)
