Brazil’s Economy Minister Guedes said wages could be increased according to Reuters

© Reuters. FILE PHOTO: Brazil’s Economy Minister Paulo Guedes gestures during a meeting at the Committee on Economic Affairs (CAE) of the Brazilian Federal Senate in Brasilia, Brazil March 27, 2019. REUTERS/Ueslei Marcelino/File Photo

BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Tuesday that the government’s effect would allow for a wage increase after years of no increase in the minimum wage and a freeze on civil servants’ wages.

Speaking at an event organized by the Brazilian Supermarket Association (Abras), Guedes highlighted the effect achieved by digitizing public services and noted that the current administration has not replaced many retired civil servants.

“We will be able to raise wages moderately and based on the possibility of inflation from now on. From now on, we will maintain purchasing power or even increase the purchasing power of wages,” he said.

The government of President Jair Bolsonaro, who is seeking re-election in October but beats former leftist President Luiz Inacio Lula da Silva in opinion polls, has spent 14.2 billion reais (2.76). billion USD) to fund higher wages for civil servants in the 2023 budget bill sent to the National Assembly. .

The proposal does not specify the adjustment rate or which civil servants and occupations are considered for salary increase. The government has come under heavy pressure from civil servants to raise wages as inflation erodes their purchasing power in Latin America’s largest economy.

The budget bill is not expected to raise the minimum wage beyond inflation.

During the event, Guedes also said that Bolsonaro’s government this year intends to privatize the Port of Santos – the largest port in Latin America – after offering a minimum price of 3.015 billion reais ($586.32 million). for Tuesday’s privatization auction.

($1 = 5.1425 reais)

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