Brazilian Federal Government Cannot Afford to Increase Minimum Wage

Brazil's Minister of Economy, Paulo Guedes, said that Brazil may "issue currency", and also increase indebtedness, such as recovering the "domestic debt," and "monetize debt without inflationary impact".

RIO DE JANEIRO, BRAZIL - For the Brazilian minimum wage to be maintained, the National Congress must vote on the Provisional Measure (MP) that established the monthly amount at R$1,045 or slightly less than US$200. The MP is effective until June 1st, 2020. If it is not ratified by a congressional vote, the wage may suffer changes.

The first vote was held in the Chamber of Deputies on Tuesday, May 26th, and the amount was passed. Now it proceeds to the Federal Senate. The rapporteur of the proposal is Santa Catarina's Federal Deputy, Coronel Armando.

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