MNI China Daily Summary: Thursday, December 12

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MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Guedes Indicates Government Has Liquidity Reserve of BRL800B for 2023

BRAZIL
  • Brazil’s Economy Minister, Paulo Guedes, said that the government has a liquidity reserve of 800 billion reais for next year and knows how to face the fiscal problem, speaking during an event in Brasilia on Wednesday.
  • There will be a tax reform this year and a tax on profits and dividends should cover the additional amount of 200 reais of social program ‘Auxílio Brasil’ for 2023.
  • The economy minister added that Brazil’s spending cap was very poorly constructed:
    • It’s necessary to correct the “hypertrophy” in federal government spending, that’s the “spirit” of the cap, which was maintained by the govt, Guedes said
  • Brazil also needs to accelerate the privatization strategy with the additional revenue to be used for poverty eradication fund and public infrastructure fund. (Bloomberg)
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