Guedes says that the country is in a turbulent phase, but foresees a fall in the dollar – 05/04/2021 – Market

Minister Paulo Guedes (Economy) said on Tuesday (4) that the country is going through a “difficult and turbulent phase”, but predicted that the dollar will start to fall.

“All these uncertainties, the disease [Covid-19], the prospect of recession, it all affects a lot [o câmbio]. The question of whether or not we will be able to proceed with reforms, rumors about a minister may fall, may not fall. We live in a difficult, turbulent phase. It is not at all smooth here ”, he declared in a public hearing in the Chamber.

He cited that the dollar is higher than expected. “So, the fact that the dollar is a little higher, would be great if it fell. I think it will fall ahead, ”said the minister, recalling the increase in commodity exports and the impact of this on the Brazilian trade balance.

According to Guedes, Brazil, therefore, became richer in the face of this recent movement, but it is still necessary to transfer this wealth to the most vulnerable. The minister defends an increase in spending in the social area, including the reformulation of Bolsa Família.

“The country got better when it goes up [o preço do] that it produces ”, he said.

The Chamber hearing brings together members of four commissions: work; finance and taxation; education; and social security.

Guedes was asked about the cut in the budget for the Demographic Census, which was again postponed.

When sanctioning the 2021 Budget, President Jair Bolsonaro (without a party) made another cut in the budget for the Demographic Census. The treasury this time was R $ 17 million.

As a result, resources for research, which initially amounted to R $ 2 billion, were reduced to around R $ 50 million. This is the amount left for the IBGE (Brazilian Institute of Geography and Statistics) to carry out studies and prepare the research.

Guedes stated that it was not up to the Ministry of Economy to make this decision, which, according to him, was political. “It is a political process”.

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