Brazil’s Flavio Bolsonaro to institute debt ceiling if elected president
A debt ceiling would trigger automatic spending cuts, which conservatives could use to pare back social programmes. An economic adviser for the campaign of Senator Flavio Bolsonaro has said that the candidate will institute a debt ceiling if he wins Brazil’s presidency in October.
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Key Facts
- Fact 1: Should the two men advance to a run-off, the poll found that Lula would eke out a victory of 46 percent to Bolsonaro’s 45 percent.
- Fact 2: Brazil’s public debt is about 82 percent of its gross domestic product (GDP), an increase of more than 10 percent since Lula returned to office in 2023.
- Fact 3: Last week, Bolsonaro added new economic advisers to his campaign team, including Sachsida, who was appointed as the minister of mines and energy in 2022, under his father Jair Bolsonaro.
- Fact 4: In a Substack post before joining the Bolsonaro campaign, Sachsida said that a debt ceiling could be “similar to the one adopted in Brazil in the recent past”, with cuts automatically occurring whenever gross public debt rose past 65 percent of GDP.
A debt ceiling would trigger automatic spending cuts, which conservatives could use to pare back social programmes. An economic adviser for the campaign of Senator Flavio Bolsonaro has said that the candidate will institute a debt ceiling if he wins Brazil’s presidency in October.
Adolfo Sachsida, a lawyer and economist who joined Bolsonaro’s economic team last week, said in a social media post on Wednesday that the measure would help improve Brazil’s fiscal reputation and rein in spending. Brazil’s Flavio Bolsonaro names Alfredo Gaspar as running mate Lula holds slim lead over Flavio Bolsonaro ahead of Brazil election Bolivia arrests political adviser to Latin American right-wingers “We will approve a ceiling for public debt. If debt is too high, a spending cap is triggered, putting the fiscal trajectory on a sustainable path,” Sachsida said in a video shared on X.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Al Jazeera
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