UPDATE 1-Brazil prepares ’emergency’ 42-bln-reais stimulus From workers’ fund #Will_BeFebruary 14, 2020
(Recasts lead with Bolsonaro comments, adds details and context)
BRASILIA, July 24 (Reuters) – Every Brazilian will be able to withdraw up to 500 reais ($133) from his or her workers’ severance fund accounts, in what President Jair Bolsonaro said Wednesday will be an “emergency” 42-billion-reais stimulus injection into a sputtering economy.
Economists are forecasting a string of interest rate cuts this year aimed at lifting Latin America’s largest economy out of a prolonged funk since the punishing 2015-16 recession, but weak tax revenue leaves little room for major fiscal stimulus.
Yes, it is an emergency, because our economy is not doing well, although it is already showing signs of recovery,” Bolsonaro said to reporters in Brasilia.
On Tuesday, Economy Minister Paulo Guedes said some 30 billion reais will be freed up from the FGTS fund this year and 12 billion reais next year.
Details of the measure are expected at an Economy Ministry press conference at 4 p.m. local time (1900 GMT) on Wednesday.
“This year,there will be a withdrawal limit of 500 reais per account.
From next year, if you have enough money in the account, the percentage will be lower, and if you don’t have much left, the percentage will be higher,” Lorenzoni told Radio Gaucha.
Workers will be able to make withdrawals between August this year and March next year, Lorenzoni said.
Currently, if an employer fires a worker without just cause, they are liable to pay the individual up to 40% of the total contributions made by the company for that worker to date.
As I picked up my morning coffee, I scoped out the place for possible prey. A new cock to suck from a suitable guy was on my breakfast menu. I made eye contact with a good-looking 30-something but quickly realized that he was a former conquest. As he approached to say hello, I raised my hand like a traffic cop and shook my head no. He stopped and retreated, obviously disappointed. I was looking for some fresh meat. However, I was so horny and hungry for cock and hot cum that if nothing new was to my liking I would go back to the 30-something, but I had to act quickly, as always.