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Bolsonaro Confirms Higher Auxilio Brasil Payment Extension

BRAZIL
  • Brazil is expected to report a current account deficit of $1.9b in May, according to economists surveyed by Bloomberg, after a $2.76b deficit in prior reading. Central Bank releases report on its website at 1330BST/0830ET.
  • As had widely been expected, President Bolsonaro said he already agreed with the Economy Minister Paulo Guedes that, if re-elected, his Administration will propose in Congress the maintenance of Auxílio Brasil social aid at 600 reais per month in 2023.
    • Bolsonaro also stated that businessmen targeted earlier this week by the country’s Federal Police did not deserve to be investigated.
  • As mentioned yesterday, Lula’s campaign is growing concerned about winning over the middle class, a key constituency in Brazil’s election, as his lead in polls stalls just weeks ahead of the vote, according to three people close to the candidate.
  • Some advisers are pushing Lula to strike a more pragmatic tone in his speeches, pivoting from his leftist base of support and broadening his appeal on the economy in efforts to attract centrist and middle-class voters. Their bet is that many in that segment feel alienated by Bolsonaro’s conservative views and aggressive rhetoric.
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