Brazil’s Lula announces welfare increases ahead of presidential election
Summary
Brazil’s President Luiz Inacio Lula da Silva announced a 15% increase in welfare payments before the presidential election in October. The increase will raise the Bolsa Familia program’s minimum monthly benefit from 600 reais ($116) to 691 reais ($134) next month to help families deal with rising inflation.Key Facts
- Lula’s government announced a 15% rise in Bolsa Familia welfare payments starting next month.
- The minimum monthly benefit will increase from 600 reais ($116) to 691 reais ($134).
- The welfare program helps low-income families with monthly incomes under 218 reais ($42).
- The increase aims to offset inflation, which rose 15.04% since March 2023.
- The cost of the increase is expected to be 5.8 billion reais ($1.13 billion) in 2026 and 22 billion reais ($4.27 billion) in 2027.
- Lula faces a tight election race against Flavio Bolsonaro, son of former President Jair Bolsonaro.
- Brazil’s finance minister said the current budget can cover the increase without extra expenses.
- The government is also considering a debt relief plan to help borrowers restart financially.
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