Today, we discuss the Central Bank chairman’s priorities for the economy. A massive hack that could have spread around many government agencies. And what’s new about the November 15 election.
Central Bank chairman wants government to aid companies, not people
During an event broadcast online, Central Bank Chairman Roberto Campos Neto argued that the Brazilian government should concentrate on supporting companies — and not individuals — when drafting new financial aid policies. Mr. Campos Neto cited a “considerable” recovery in the amount of hours worked in the country, which would drive income back up. “That leads us to believe that now is the time to do more for companies rather than individuals. That is our mindset now,” he said.
- Brazil’s unemployment rate is setting records week after week, currently at 14.4 percent. Many economists, however, believe that the worst is yet to come, and warn that pulling direct aid from people could lead to a massive poverty crisis. During the pandemic, government aid has been the sole source of income for tens of millions of Brazilians.
- Relief programs have topped USD 107 billion, or 8.4 percent of GDP. According to monitoring by the Senate, almost half...