Brazil's "Bankruptcy" It is reported that Bolsonaro tried to revise the income tax table, but failed to do so due to the severe domestic economic situation. During the epidemic, the Brazilian government adopted a subsidy policy to extend the period of subsidy support to help vulnerable groups reduce the losses caused by the epidemic. Brazil's subsidy policy is initially expected to benefit 60 million people in Brazil, mainly those who are unemployed, have no formal jobs or are poor.
It is understood that the subsidy amount of Brazil's subsidy policy in 2020 is 1.200 reais per month. However, in 2020, the subsidy intensity will be reduced by half compared with the previous period, and the national treasury of the Brazilian government is in a very difficult situation, so it is difficult for the Brazilian government to afford the public subsidy policy.
Brazilian President Bolsonaro said that at this critical moment, the way to help the Brazilian people is to reduce their income tax. He once again emphasized his campaign promise: to help increase the number of places exempt from income tax. At present, due to the COVID-19 epidemic, Brazil's national tax revenue has been greatly reduced, but the expenditure on many projects has increased, and the President's promise cannot be fulfilled at present.
According to estimates by Brazilian economic experts, Brazil's economy shrank by 4.5% last year, the highest level in a decade. At present, this figure is lower than the 9% estimated by the International Monetary Fund at the beginning of the epidemic. Fortunately, most economic activities have resumed in recent months, and some industries have begun to recover. However, the number of unemployed people is still rising, and many entrepreneurs and investors have still not eliminated their distrust of the government.
Some economists believe that whether the Brazilian government can quickly carry out COVID-19 vaccination is crucial to Brazil's economic recovery. However, the Brazilian government has not yet started the vaccination program. When a reporter asked Bossonaro about Brazil's grim economic situation, Bolsonaro replied that the Brazilian media is a "weak media", which directly fueled the flames of COVID-19. The major media always do everything they can to try to squeeze the government dry and overthrow us (the Brazilian government) in order to achieve their own relevant interests. According to related reports, while the epidemic was raging in Brazil, the Brazilian head of state blamed the severe economic situation of the whole country on local governments, believing that they had implemented social isolation measures to block the development of COVID-19, which led to the stagnation of economic development.