Reuters logo
Brazil allows withdrawal from social program in $5 billion boost to economy
September 28, 2017 / 7:45 PM / 3 months ago

Brazil allows withdrawal from social program in $5 billion boost to economy

BRASILIA, Sept 28 (Reuters) - Brazil’s President Michel Temer announced on Thursday that his government will allow early withdrawal by workers of their funds in the PIS/PASEP social program that will inject 15.9 billion reais ($5 billion) into an economy barely pulling out of recession.

“This is another measure aimed at stimulating economic growth and the creation of new jobs,” Temer said. Earlier this year the government allowed the withdrawal from the FGTS workers’ severance fund, which freed up 44 billion reais that has boosted consumer spending. ($1 = 3.1812 reais) (Reporting by Anthony Boadle; editing by Diane Craft)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below