Politics
“The vaccine is the best fiscal and public health policy,” says Paulo Gedes.
Minister of Economy Paulo Gedes (Andressa Ancholete / Bloomberg)
According to the Minister of Economy, Paulo Gedes, mass vaccination against covid-19 is the best fiscal balance policy. According to the federal government, as of this Tuesday, 25, just over 42 million people have received at least the first dose of the immunizer, which corresponds to 20% of the population.
“Vaccine is the best fiscal and public health policy,” he said at the event. CEO Conference Brazil 2021organized by BTG Pactual Bank (of the same group that controls EXAM). Gedes also added that the pandemic has slowed growth expected by the Ministry of Economy.
“With regard to Covid-19, I use an image showing that we were on the road to reform, only that it was on fire. We went to put out the fire to resume reforms. We didn’t know anything about this disease, we didn’t have any prospects for a vaccine, we didn’t know how much we were going to spend, ”he said.
Gedes also noted that there was a consensus between the executive branch and the legislature on the allocation of resources for emergency assistance and the purchase of vaccines, but with financial responsibility, which was his main prerequisite. In 2020 alone, the Ministry of Health transferred R $ 115 billion to the states to fight the pandemic.
“We are not going to lower this debt down to 100% of GDP. [Produto Interno Bruto]… The costs have to be one-off, and we are looking for Congressional support to stay within the spending ceiling, ”he said.
Privatization and reforms
As part of a program to warm up the economy and recover from the COVID-19 crisis, Gedes said administrative and tax reforms are fundamental in addition to privatization. According to Guedes, in the first two years of his rule, 200 billion reais were received from the sale of state assets.
“We live in a democracy, and the president is an alliance of liberals and conservatives. Congress is turning under this center-right deal. There is a minister who is trying to break the ceiling, this is normal, but when this happens, the Minister of Economy must warn and conclude an agreement without breaking the ceiling. Now we are moving towards administrative reform, ”he said.
On Tuesday, the chamber’s commission on constitution and justice confirmed the admissibility of the administrative reform. The text has yet to go through the plenary session.
Three tax reform proposals are also under discussion in Congress. A year ago, the Minister of Economy sent a text added to two other draft amendments to the Constitution on the same topic, and which are now being processed in Chamber of Deputies (PEC 45) and no Federal Senate (PEC 110).
Overall, the three texts propose changes to the entire tax base of consumption in the country, which corresponds to most of the government’s revenues. The executive’s proposal deals only with federal taxes, while the National Congress proposal combines federal, state, and municipal taxes.
Gedes said one of the ideas in the government’s proposal is to reduce taxation for companies investing in expanding their businesses and raise taxes for those companies that increase dividends in terms of balance and incentives. “It will be easy to understand and difficult to resist,” he said.
Ambulance
The second round of emergency aid began to be paid in April and will end in July. According to Paulo Gedes, the government is thinking about how to reform the Bolsa Família program and help the most needy families. An EXAME / IDEIA poll in early April found that 71% of emergency recipients used money to buy food.
CEO Conferente Brasil 2021 started on Tuesday 25 November and will continue on Wednesday. The panels include discussions with some of the biggest names in the country and the world in areas such as economics, market and finance, technology, health, agribusiness and careers.
The event, organized annually by the investment bank, this time in a virtual format due to the removal measures due to the coronavirus pandemic, has one of its goals precisely to promote the right choice on the part of society and its leaders.
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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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