BRASILIA (Reuters) -Brazil’s Finance Minister said on Thursday that the government is preparing measures to help meet this year’s fiscal target, and denied any plans to increase monthly payments under the “Bolsa Familia” cash transfer program for low-income families.
Speaking to reporters in Brasilia, Fernando Haddad said the measures under consideration are targeted, not part of a broader package, and will be discussed with President Luiz Inacio Lula da Silva next week.
“It is not even possible to call it a package, because they are specific measures, none of them are of large-scale,” Haddad said. “They are aimed exclusively at meeting the fiscal target.”
The government is expected to release on May 22 its first budget report of the year, tracking revenues and expenditures.
The report must outline any necessary measures to meet the fiscal target of eliminating the primary deficit this year, if current projections fall short of that goal.
Haddad also said there is no plan within the government to raise payments of the “Bolsa Familia” benefit, echoing remarks made by Social Developing Minister Wellington Dias late on Wednesday.
Local magazine Veja reported on Wednesday that the Social Development Ministry was readying a proposal to increase monthly the monthly payments to 700 reais ($124.17) next year, up from the current 600 reais.
The outlet reaffirmed the report on Thursday.
The Brazilian real briefly narrowed losses against the U.S. dollar in spot trading during Haddad’s remarks, but resumed a negative path right after, weakening over 1% to about 5.69 per greenback.
Haddad also noted that a planned measure to support app-based delivery workers is still under development and does not yet have a final design.
(Reporting by Victor Borges in Brasilia; Additional reporting by Fabricio de Castro in Sao Paulo; Writing by Andre Romani; Editing by Gabriel Araujo)
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