Brazil's Economy Minister Paulo Guedes Monday said Mercosur would “modernize” and anyone against that was free to leave the bloc.1 comment
Brazil's Gross Domestic Product (GDP) contracted 0.1% in the 2nd quarter of 2021, the Brazilian Institute of Geography and Statistics (IBGE) reported Wednesday.
The anticipated inflation for the eighth month of the year in Brazil, which measures the second half of July and the first half of August, reached 0,89% according to the official stats office IBGE and is the highest since August 2002.
Brazilian Economy minister Paulo Guedes told Congress that Mercosur no longer has for Brazil the same importance it had when it was launched, a kind of jumping board for the country to advance in competition terms.
Brazil's President Jair Bolsonaro Wednesday announced he was evaluating a cabinet reshuffle and also expressed doubts about running for a new term in office in October 2022.
“We are liberal but not stupid,” said Brazil's Economy Minister Paulo Guedes Thursday during a virtual event where he explained that his country has no intention of leaving Mercosur, but it does want to modernize it.
Brazil is determined that Mercosur's Common External Tariff, TEC, be reduced by 20% in two rounds of unilateral cuts, 10% immediately, and the other 10% in December. This is the official strategy and position of Brazil for the extraordinary meeting in June of the four founding members of the group, in Buenos Aires, underlined Lucas Ferraz, foreign trade secretary of the Brazilian Ministry of the economy.
Brazilian President Jair Bolsonaro praised his Economy Minister Paulo Guedes as the “anchor” of his government, in an attempt to quash speculation of a deepening division between the two after Bolsonaro last week ousted Petrobras CEO triggering a plunge in markets.
The leaders of Brazilian congress two chambers announced on Friday priority will be given to reviving pandemic emergency payments to the vulnerable population, which are expected to be granted in four months, from March to June.
Brazilian economy minister Paulo Guedes announced on Thursday that pandemic emergency cash payments to the vulnerable will be extended, but with compensating cost-cutting measures to avoid bankrupting public finances.