City
Epaper

Brazil to extend emergency financial aid

By IANS | Updated: November 13, 2020 11:45 IST

Brasilia, Nov 13 If Brazil witnesses a second wave of the Covid-19 pandemic, the government will once again ...

Open in App

Brasilia, Nov 13 If Brazil witnesses a second wave of the Covid-19 pandemic, the government will once again extend emergency aid to the vulnerable, Economy Minister Paulo Guedes said.

At an online event on Thursday sponsored by the Brazilian Association of Supermarkets, Guedes made it clear that it was not the government's plan to extend the emergency measure, since officials expect a gradual decline in infections and stepped up economic recovery, reports Xinhua news agency.

However, "if there is a second wave, it is not a possibility, it is a certainty" that the government will resume the emergency aid, he said.

"We will have to react, but it is not Plan A. It is not what we are thinking now," he added.

According to Guedes, by the end of 2020, the government will have spent more than 600 billion reals ($110 billion), or 10 per cent of the GDP, to help poor or low-income households struggling with the pandemic's impact on the economy.

The emergency aid payments began in May and were extended until December 31.

During the first three months, the aid was set at 600 reals a month, but was then reduced to 300 reals.

Brazil currently accounts for the third highest number of Covid-19 cases in the world and the second highest fatalities.

As of Friday, the country's caseload and the death toll stood at 5,747,660 and 163,368.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

NationalFour of family die from toxic fumes in Bihar's Chhapra, three critical

EntertainmentTu Meri Main Tera Main Tera Tu Meri Box Office Collection Day 2: How Much Did Kartik Aaryan, Ananya Panday Starrer Earn on Its 1st Friday

TechnologyLoan growth in India to be strong in Q3 FY26 with improved net interest margins

BusinessLoan growth in India to be strong in Q3 FY26 with improved net interest margins

BusinessGlobal Healthcare Fund Offers $70 Million to Pinnacle Blooms Network to Scale - AI-Powered Child Development Operating System

International Realted Stories

InternationalRussian diplomat says Ukraine proposed radically different peace plan

InternationalIntelligence flags shift in Khalistan focus to Australia as heat rises in Canada, UK

InternationalTrump teases talk with Putin ahead of meeting with Zelenskyy as peace efforts continue

InternationalFTA with India means more jobs, exports, higher incomes: New Zealand PM

InternationalSouth Korea: Supreme Court confirms ex-NCT member Taeil's 3.5 year term in sexual assault case