Brazil’s Guedes says Treasury officials quit over larger welfare program

October 22, 2021

BRASILIA (Reuters) – Brazilian Economy Minister Paulo Guedes said on Friday it was “normal” for Treasury officials to have resigned the day before, given that they disagreed with a larger welfare program proposed by President Jair Bolsonaro.

Guedes, speaking next to Bolsonaro at a news conference, said the monthly stipend of 400 reais ($71) for some 17 million families “does not alter the fiscal fundamentals of Brazil.” Brazil’s currency and stocks extended losses on Friday following an exodus of senior Treasury officials triggered by Bolsonaro’s plans to spend more ahead of next year’s election.

($1 = 5.6550 reais)

(Reporting by Anthony Boadle; Editing by Brad Haynes)

Source Link Brazil’s Guedes says Treasury officials quit over larger welfare program

Tajammul Pangarkar

Tajammul Pangarkar is a tech blogger, and has contributed to numerous tech magazines. Tajammul longstanding experience in the field of mobile technology and industry research is reflected in his insightful news articles as presented on News.market.us. His interest lies in understanding the tech trends, mobile applications and technical consciousness on these increasingly consumer-oriented industries. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.