We’re covering states’ efforts to help the economy during the Covid-19 crisis amid the government’s absence. The latest presidential speech. And the worst quarter for Brazil’s stock market ever.
What states are doing for the economy while the government stalls
Congress approved a BRL 600 emergency salary to informal workers on Monday, but President Jair Bolsonaro has yet to sign it into law. On Tuesday, Economy Minister Paulo Guedes said there are many logistics involved in getting aid to people, and that “money doesn’t fall from the sky.” But the federal government has proven to be particularly slow to enact measures to reduce the blow of the inevitable recession. Asked about delays on behalf of the central government in Brasília, House Speaker Rodrigo Maia said the emergency salary “doesn’t seem too urgent for the government.”
- Meanwhile, state administrations have passed several actions to compensate for the near-shutdown of the in-person economy. Moves range from distributing basic goods, offering aid and tax exemptions to companies, hiring health professionals and purchasing more supplies, or temporarily waiving utility bills.
Why it matters. Over 12 million people in Brazil are unemployed. Another 10 million have “individual low-income companies” and usually work under precarious conditions....