Good morning! Today, we talk about Lula’s moves to prevent a recession as the economy slows down. The rise of contactless transactions. And a head-scratching move could happen in the Labor Ministry.
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Lula pledges to jolt the economy as slowdown gets clearer
In an interview with CNN Brasil, President Luiz Inácio Lula da Silva promised to raise the minimum wage and income tax threshold, aiming to increase Brazilians’ purchasing power amid signs of economic slowdown. Lula set May as a deadline for the measures to take effect.
Into the weeds. The minimum wage hike will be of only 1.38 percent, rising to BRL 1,320 (USD 251). Still, it could result in a hit to the federal budget of as much as BRL 15 billion, according to estimates by digital bank Inter — almost...