Today, we look at the latest disagreements between President Jair Bolsonaro and Economy Minister Paulo Guedes. The data protection law could finally become a reality. The pandemic’s impact on retail. And new regulation for Zoom calls with executives.
Guedes is on the clock
President Jair Bolsonaro overruled his Economy Minister on Wednesday, telling reporters that he ordered Paulo Guedes to halt his plan for a new cash-transfer policy. Mr. Bolsonaro said he couldn’t agree to a program that foresaw slashing other benefits — such as salary bonuses to people in formal employment — saying he would not condone “taking money away from the poor to give to the miserable.” The president gave Mr. Guedes until Friday to come up with a new proposal.
Why it matters. The disagreements between deficit hawks within the Economy Ministry and the government’s spendthrift military wing are notorious. This public scolding once again ignited fears that Mr. Guedes could resign — causing the stock market to go down and the Brazilian currency to lose ground against the U.S. Dollar.
Tough choice. Mr. Bolsonaro has some tough choices ahead. He must balance the federal spending cap, while offering help to the millions who were deprived of their...