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What Bolsonaro's New Spending Push Means for Brazil’s Fiscal Future

Oct 7, 2020 | 17:00 GMT
Brazilian President Jair Bolsonaro attends the inauguration ceremony of Supreme Court Justice Luiz Fux on Sept. 10, 2020, in Brasilia, Brazil.

Brazilian President Jair Bolsonaro attends the inauguration ceremony of Supreme Court Justice Luiz Fux on Sept. 10, 2020, in Brasilia, Brazil.

(Andressa Anholete/Getty Images)

Brazilian President Jair Bolsonaro’s announcement of a new social cash-support program has raised concerns about the government’s long-term fiscal discipline, as well as its policies to balance the needs for domestic social spending with longer-term debt issues. On Sept. 28, Brasilia announced a new cash transfer social program, dubbed the “Citizens Income,” which offers an extension of current COVID-19 support programs for low-income citizens into 2021. To soften the blow of the COVID-19 outbreak, Bolsonaro’s government has offered multiple fiscal stimulus programs in the past few months at a cost estimated to be more than eight percent of the country’s GDP....

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