Why Brazil’s enhanced Family Grant threatens the spending cap

Next year's budget may not allow for the additional billion-dollar spending, the financial market reacted negatively as the dollar rose 2.5% and stocks fell 3%.

RIO DE JANEIRO, BRAZIL - President Jair Bolsonaro on Friday (30) said he intends to raise the average amount of Bolsa Família (Family Grant) by at least 50% and even argued that the country should go into debt to pay for the social program.

The president said that on Friday he would meet with the federal government's economic team to determine the Bolsa Familia's new amount, which is currently "low" at R$192 (US$37).

Last week, Bolsonaro had announced that the average value of the Bolsa Família would be readjusted to above R$300.

"Why raise . . .

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