INCOME AND OPPORTUNITY
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Posted on 03/17/2022 20:42 Updated 03/17/2022 21:13
Federal Government launches measures to inject more than BRL 150 billion into the economy
President of the Republic Jair Bolsonaro during the signing of Acts. - Photo: Isac Nóbrega/PR
President Jair Bolsonaro participated, on the afternoon of this Thursday (17/03), in a ceremony at Palácio do Planalto, in the launch of the Income and Opportunity Program, which provides for a series of measures to leverage the resumption of employment and the economy in the country. Among the measures released through provisional measures and decree are the offer of a line of credit for entrepreneurs, extraordinary withdrawal of part of the FGTS, anticipation of the 13th of retirees and pensioners of the INSS and release of payroll-deductible loans for those who receive assistance benefits, such as the Brazil Aid.
One of the Provisional Measures signed by President Jair Bolsonaro creates the Digital Microcredit Simplification Program, SIM Digital, aimed at popular entrepreneurs without a history of credit support in the financial system. The loans will take into account the social reality of these entrepreneurs and offer favorable conditions, according to their ability to pay. For individuals, a credit of up to R$1,000 will be released, which will be paid in up to 24 installments, with an interest rate starting at 1.95% per month. The loan will be released even for people with credit restrictions, the so-called negative ones.
It is the first time that Caixa makes the release for negative people and the benefit can reach 30 million people. For individual microentrepreneurs (MEIs), the credit is up to R$ 3 thousand that can be paid off in up to 24 installments at a rate of 1.99% per month. Loans for individuals will be released by the Caixa Tem app. For MEIs, the release will be at the agencies, but within two months, it will also be available on the application. According to the president of Caixa Econômica Federal, Pedro Guimarães, operations will be released on March 28.
Another MP signed by President Jair Bolsonaro creates the Extraordinary Saque do FGTS. The measure will allow workers with linked accounts to withdraw up to BRL 1,000 from their accounts. The release will be done digitally, through the Caixa Tem app, and starts to be released on April 20 and runs until June 15. Caixa Econômica's estimate is that around R$ 30 billion will be withdrawn for up to 42 million Brazilians.
The objective is to reduce the commitment of income and indebtedness of families due to the health crisis caused by Covid-19.
Also through a provisional measure, the Federal Government is increasing the payroll loan margin for retirees and pensioners of the National Social Security Institute (INSS) from the current 35% of the benefit amount to up to 40%. The MP also authorizes citizens who receive assistance benefits such as the BPC or who participate in the Auxílio Brasil program to have access to the loan with lower interest rates. According to the Federal Government, the changes should benefit more than 50 million Brazilians and release around R$ 77 billion in payroll-deductible loans for this public.
President Jair Bolsonaro also signed a presidential decree authorizing the advance payment of the 13th salary to INSS beneficiaries. The decision also aims to mitigate the economic effects caused by Covid-19 during the year 2021, which still have repercussions in 2022.
In all, the measure will inject around R$ 56.7 billion into the economy. Approximately 30.5 million beneficiaries throughout Brazil will be covered in advance. Payment will be made in two installments. The first, corresponding to 50% of the benefit amount, will be paid between April 25 and May 6, according to the schedule for receiving the benefits. The second installment will be paid from May 25th to June 7th. In general, the payment of the 13th salary would only occur in August and November. The Federal Government recalls that the measure has no budgetary impact, as there will only be an advance payment of the benefit, with no increase in the expenditure expected for the year.
The Government's expectation is that all the measures presented will inject more than R$ 150 billion into the country's economy.
For more information about each measure, visit: www.gov.br/rendaeoportunidade.