The new withdrawal from the Severance Indemnity Fund (FGTS), announced by the Minister of Economy, Paulo Guedes at the end of last month, should be officially released this week. The measure is one of the actions implemented by the government to boost the country’s economy. To authorize the looting, President Jair Bolsonaro must sign a provisional measure in a ceremony scheduled for the next few days.
+ New round of FGTS withdrawals could inject up to BRL 30 billion into the economy
The ministry is studying releasing the money to 40 million people who have a balance in the fund. According to the government, workers could withdraw up to R$ 1,000 from the FGTS in a measure that could inject R$ 30 billion into the economy. The estimated impact on Gross Domestic Product (GDP) in the middle of an election year is 0.3%.
The FGTS withdrawals should be similar to those carried out in 2020, when the government released access to the resource to face the beginning of the Covid-19 pandemic.
Although there is still no concrete data, the new round of FGTS withdrawals must also follow a calendar based on the month of birth of each contributor to the fund. Redemption will not be mandatory.
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