The stock market in Brazil has welcomed the appointment of the new government, under the radical right-wing President Jair Bolsonaro with record values. The leading index in the financial centre of São Paulo, the castle on Wednesday evening (local time) with 91’012 points-the first time ever above the threshold of 90’000 meters. The stock market was 3.56 per cent in the Plus. The Brazilian currency climbed against the Dollar by 2.4 percent.
On the stock exchange the shares of the largest Brazilian utility Centrais Eletricas Brasileiras increased by 14.5 percent after energy Minister Bento Albuquerque had announced the partial privatisation of the group. Even bigger of a jump in the share of the arms manufacturer, Forjas Taurus was: The papers were up nearly 50 percent, because Bolsonaro wants to liberalise the law on the Carrying of weapons.
The financial centre, paid tribute to a speech of the new Brazilian Minister for economic Affairs, Paulo Guedes. He had declared at the time of his commencement of the pension reform a priority of the government, and in addition, an extensive programme of privatisation was announced. Both points are crucial for the markets, concerned about the high level of sovereign debt.
economic growth of 2.4 percent
The government is aiming for in addition, a reduction and simplification of taxes. Overall, the markets of the new government, expect to see a sustainable economic recovery.
The International monetary Fund expects that in the current year, with economic growth of 2.4 percent in Brazil. Whether it Bolsonaro really manages to boost the recently sluggish economy, the largest country of Latin America, depends, however, on whether he can organize in the Congress, in fact, more fixes for in-depth reforms such as the pension system, wrote the analysts of the rating Agency Fitch.
Bolsonaro was sworn in on Tuesday as President, on Wednesday, the first Minister took office. The new government wants to focus in foreign policy-new and is looking for the approach to other right-wing governments in countries such as Israel, Italy and Hungary.
the Land of the native American population
On his first day Bolsonaro handed over on Wednesday by a decree of responsibility for the Land claimed by the native population, the Ministry of agriculture. He removed the authority for indigenous Affairs and stoked Fears that the interests of the Agarindustrie be in the future made on the Indians and the protection of the environment. Decisions on the privatisation of companies, added criminal penalties for Criminals and a slight increase in the monthly minimum wage harder.
The former military captain and Nationalist Bolsonaro, has ensured display of misogynistic, racist and homophobic Comments for outrage, ushering in three decades of left-oriented governments in Brazil, a new Era. While environmentalists and human right activists, the inauguration of the right wing, with concern watching, hope investors on a liberal economic policy of the Ex-servicemen.
tax cut and partial privatization
The new Minister of economy Paulo Guedes, a former investment banker wants to cut taxes and costly social system revise. Bolsonaro, also referred to as the “Trump of Brazil,” is a self-confessed Fan of American President Donald Trump. US Secretary of state Mike Pompeo, of the swearing-in Bolsonaros attended in the capital, Brasilia, to cooperate with the new government closely.
“We have the opportunity together against the authoritarian Regime,” he said on Wednesday after talks with his counterpart, Ernesto Araujo with a view about Venezuela. (sep/sda/afp)
Created: 03.01.2019, 10:14 PM
