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Haddad said that Bolsonaro’s “party” in the elections raised interest rates

Haddad said that Bolsonaro’s “party” in the elections raised interest rates

“The interest was 13.75% due to a heart attack during the elections. All in all, we have reached, on an annual basis, R$300 billion,” said the Finance Minister.

Fernando Haddad and Jair Bolsonaro

247 – Finance Minister Fernando Haddad said that the electoral measures taken by Jair Bolsonaro (PL) last year were the “spree” that led to an increase in the base interest rate by the Central Bank (BC).

“In August last year, interest rates reached 13.75%, due to a heart attack during the elections. In general, we reached, on an annual basis, R$ 300 billion. Annual expenditures during the elections, including exemptions, additional expenses, aid, and all What was done from May to June of last year until the elections Haddad said on Wednesday (17), during a public hearing held in the House of Representatives, there was also a primaries committee, a default in the laboratories.

>>> The government’s economic measures are already allowing the British Columbia Council to lower interest rates, Haddad says: “There’s room for study.”

Therefore, the monetary authority raised the interest rate due to the complete lack of control over the public accounts, the absolute lack of control over the public accounts. One would think that it should be 13.75%, but let’s face it inflation was in double digits during the Bolsonaro government,” the minister emphasized.

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Haddad also said that Bolsonaro is “probably the most limited person” he has ever seen and accused the previous government of recording the worst economic growth in Brazilian history.

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The Monetary Policy Board (Copom), which is linked to the British Columbia Commission, raised the base interest rate (Selic) in August last year. The monetary authority maintained the level, the highest since January 2017, at the last committee meeting held in early May.