Politics
“It’s political noise that pollutes the economy,” says Paulo Gedes | Economy
Economy Minister Paulo Guedes said this Friday (26) that “political noise” pollutes the economy and that there is a “severity of political conflict” in which statesmen “exceed themselves.”
“We are carrying out a number of important reforms, as we move forward, there is an exacerbation of political confrontation. On the one hand, I strongly believe in democracy and our institutions, but some of the actors are superior to themselves. It’s all over the place, “he said. The minister during a virtual event with an investment broker.
“It is this political noise that pollutes the economy. And there are two sides to the political noise, ”he continued.
Without naming the names of the participants, Gedes explained what, in his opinion, these excesses would be.
“There is a former deputy who threatens the Supreme, then the Supreme begins to violate secrecy, to arrest people. I mean, you start to introduce a strange regime. The President rules, before you face scandals around every corner, today you have to make a huge CPI that starts with a vaccine, it has already been introduced fake news, she is looking for him, it’s a hunt until you find it, then the president reacts, ”he listed.
Gedes said he expects institutions to “moderate actors” who are “superior to themselves.”
“There are actors who are fighting. I just hope the institutes will moderate the actors, that’s all. ”
Miriam Leitao on the impact of political instability on the economy: “It’s a dangerous mixture”
Live, Gedes said he sees a strong foundation for the Brazilian economy, despite high inflation and the recent appreciation of the dollar against the real.
“We are doing our homework, fiscal policy is strong, now there is a political narrative and internal inconsistencies, people are demanding to spend more, they want to be elected next year, it’s a hell of a mess, but the president has kept that commitment. to fiscal responsibility, with a ceiling [de gastos], he supported me, ”he said.
Gedes confirmed that the social program Auxílio Brasil, which will replace Bolsa Família, will be within the spending ceiling, and he again said that the proposal to split orders (Union debts recognized by the courts) is a way to comply with the spending ceiling and the Tax Liability Act ( LRF).
With regard to inflation, the minister acknowledged that growth has affected all sectors of the economy and said that the government will use two auxiliary tools control price increases:
- lower rates MERCOSUR – the measure requires unanimous approval from the countries of the trade bloc, but Argentina has already spoken out against the change.
- lower industrial goods tax (IPI), which will be the third phase of the government’s tax reform and therefore will be subject to congressional approval.
“We have the tools and we will use them,” he promised.
Inflation for low-income families was higher than inflation for wealthier families
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Yesterday, financial agents evaluated the opposite decision of the Federal Supreme Court (STF) regarding the so-called secret budget. In addition, a decision was made by STF Minister Gilmar Méndez to issue an injunction that would exclude the Bolsa Família from the spending cap rule, with investors trying to understand how this measure would affect the processing of the transitional PEC in the Chamber of Deputies. Oh this PEC!!!!
Since he is an exchange investor, any reading that the budget will be exceeded or become more flexible will negatively affect the exchange market, whether through the PEC or in any other way. We will continue with volatility today.
Looking beyond, the US Central Bank (Fed), although slowing down the pace of monetary tightening at its December meeting, issued a tougher-than-expected statement warning that its fight against inflation was not yet over, raising fears that rising US interest rates will push the world’s largest economy into recession.
The currency market continues to react to political news. The voting on the PEC is saved for today. It is expected that it will indeed be reviewed to open the way tomorrow for discussions on the 2023 budget.
For today on the calendar we will have an index of consumer confidence in the eurozone. Good luck and good luck in business!!
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The former president of the Corinthians dreams of working for the CBF as a national team coordinator. He was consulted shortly after Lula’s election.
Former Corinthians president Andrés Sánchez was advised to take a position in the Ministry of Sports under the administration of Lula (PT). However, he ruled out a return to politics. dreams of taking over the coordination of CBF selectionHow do you know PURPOSE.
No formal invitation was made to the former Corinthian representative, only a consultation on a portfolio opportunity with the new federal government, which will be sworn in on January 1, 2023.
Andrés was the Federal MP for São Paulo from 2015 to 2019. At that time he was elected by the Workers’ Party. However, the football manager begs to stay in the sport, ruling out the possibility of getting involved in politics again.
Andrés Sanchez’s desire is to fill the position of CBF tackle coordinator, which should become vacant after the 2022 World Cup. Juninho Paulista fulfills this function in Brazil’s top football institution.
The former president of Corinthians was in Qatar to follow the World Cup along with other figures in Brazilian football. During his time in the country, he strengthened his ties with the top leadership of the CBF.
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The agreement was approved by a supermajority at a ministerial meeting of member states in Brussels, Belgium, after months of discussions about the best way to contain the rise in natural gas prices in the bloc caused by Russia’s invasion of Ukraine. .
The value set by the countries is well below the proposal made by the European Commission, the EU’s executive body, in November: 275 EUR/MWh. However, the countries leading the cap campaign were in favor of an even lower limit, around 100 EUR/MWh.
Germany, always wary of price controls, voted in favor of 180 euros, while Austria and the Netherlands, also skeptical of the cap, abstained. Hungary, the most pro-Russian country in the EU, voted against.
The instrument will enter into force on 15 February, but only if natural gas prices on the Amsterdam Stock Exchange exceed 180 euros/MWh for three consecutive days. In addition, the difference compared to a number of global benchmarks should be more than 35 euros.
Italy, the EU’s biggest supporter of the ceiling, has claimed responsibility for the measure. “This is a victory for Italy, which believed and worked for us to reach this agreement,” Environment and Energy Minister Gilberto Picetto tweeted.
“This is a victory for Italian and European citizens who demand energy security,” he added.
Currently, the gas price in Amsterdam is around 110 EUR/MWh, which is already a reflection of the agreement in Brussels – in August the figure even broke the barrier of 340 EUR/MWh.
However, Russia has already threatened to stop exports to countries that adhere to the ceiling. (ANSA).
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