DECRYPTION – The very expensive social programs of the two candidates risk plunging the country into a major crisis.
In an attempt to get ahead of their opponent in this tight electoral campaign, presidential candidates Jair Bolsonaro and Luiz Inácio Lula da Silva are increasing social promises tenfold. But the two rivals are careful not to detail the financing of these additional expenses. Considered unrealistic, they risk increasing the debt, devaluing the currency and driving up inflation.
Bolsonaro, outgoing president, kicked off the seduction operation in July by increasing the “Brazil Aid” social assistance program from 400 reais per month to 600 (110 euros), until December. Like his competitor, the left-wing ex-president Lula, the far-right head of state promises to maintain this increase in 2023 in the event of re-election. But the budget for next year sent by his government to Congress makes no mention of it. According to the calculations of the Independent Fiscal Institution of the Senate, it would be necessary to find 51.8 billion reais – 9.6 billion euros…
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