Social Security has a negative balance of $121 bn

The social security deficit reached R$604.30 billion ($121 bn) from January to November of this year, after revenues totalled R$724.82 billion ($145 bn) and expenses, R$1.329 trillion ($266 bn). The information is from the Summary Report on the Budgetary Execution of the Union (RREO), released recently by the National Treasury. The deficit is higher than that recorded in the same period last year, when it was R$ 292.66 billion ($58.6 bn).

Source: Valor Investe

New minimum wage of $220 from 1st January; impact is $800 mm

President Jair Bolsonaro said he would sign on Wednesday a provisional measure increasing the minimum wage in the country to R$1,110, effective from 1st January, 2021. The readjustment represents an increase of 5.26% over the current amount. The impact on public accounts with the readjustment will be approximately R$4 bn ($800 mm).

Source: UOL Economia