Brazil to grant fuel relief to 750,000 truckers, says Bolsonaro | Inquirer News
Close  

Brazil to grant fuel relief to 750,000 truckers, says Bolsonaro

/ 04:59 AM October 22, 2021
Brazil to grant fuel relief to 750,000 truckers, says Bolsonaro

A truck passes a gas station near BR-040 highway, during the truckers’ protest in support of Brazilian President Jair Bolsonaro in Valparaiso de Goias, Goias State, Brazil September 9, 2021. REUTERS/Adriano Machado/Files

BRASILIA/SAO PAULO Brazilian President Jair Bolsonaro said on Thursday that his government has decided to grant about 750,000 truckers fuel relief to offset price rises, a few hours after repeating that a planned new welfare program will not breach a constitutional spending cap.

His remarks on aiding truckers spooked investors who already feared that government spending on the new ‘Auxilio Brasil’ welfare program would widen its budget deficit.

ADVERTISEMENT

The Brazilian real extended losses against the U.S. dollar after Bolsonaro’s comments, plunging more than 2%, while the Bovespa stock index was down more than 4%.

Bolsonaro had told an audience earlier in the day that his government decided to raise Brazil’s welfare program payments to at least 400 reais ($70) per month for about 17 million families but would do it in a “responsible” way.

FEATURED STORIES

Economy Minister Paulo Guedes said on Wednesday that the government was considering seeking a 30 billion reais ($5.3 billion) waiver to the constitutional spending ceiling.

($1 = 5.6774 reais)

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Brazil, Fuel, Jair Bolsonaro
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.