Economic Freedom Provisional Measure to Generate 3.7 Million Jobs in Ten Years

RIO DE JANEIRO, BRAZIL – Enacting into law Provisional Measure (PM) of Economic Freedom will generate 3.7 million jobs in ten years. The statement came from Paulo Uebel, the special secretary of Debureaucratization, Management and Digital Government of the Ministry of Economy, who took part in a meeting to discuss the measure with business leaders and the Minister of Economy, Paulo Guedes, this morning, August 14th.

He quoted a study by the Secretariat of Economic Policy estimating job creation and an additional seven percent growth in Gross Domestic Product (GDP), in a ten-year period. “It is a very significant growth. It would have doubled GDP this year if it had been already implemented. It is a very strong impact, and it favors the opening and closing of companies, it facilitates starting activities in low-risk establishments that no longer depend on permits, on licenses, which means that the three to six-month wait is over.”

Among the measure’s benefits, the secretary stressed the option of digitalizing documents and later discarding them, and the creation of tax exemption for innovation. “It is closer to the rules practiced in developed countries, in member countries of the OECD (Organization for Economic Cooperation and Development), in this work of standardization of rules so that Brazil may be a member of the organization soon.”

The government is working to preserve the Provisional Measure (MP) of Economic Freedom basic text, which was approved on Tuesday evening, August 13th, with 345 votes in favor, 76 against and one abstention.

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