Macroeconomy/Finance

Coronavirus: Brazilian government will use $28bn for emergency actions

According to the government, R$ 147.3 billion ($28 billion) will be used in emergency actions to help the most vulnerable sectors of the economy and groups of citizens, in addition to preventing high unemployment. Companies will be able to postpone, in three months, the payment of Simples Nacional and the deposit of the Guarantee Fund for Length of Service (FGTS). Contributions to Sistema S will be cut in half, and it will be easier to renegotiate credit and receive external inputs.

Source: G1