Brazil: Bolsonaro cuts minimum wage
He signed a decree that sets the minimum wage to 998 Brazilian reais (approximately $257) from 1,006 Brazilian reais (approximately $267).
This action will be transitory as it has to be approved by the Congress within the next 60 days.
While Bolsonaro lowered the minimum wage, his Finance Minister, Chicago Boy Paulo Guedes, said he planned to cut Brazil's tax to 20 percent of gross domestic product from 36 percent and reduce the state’s role, which means more economic liberalization and cuts in the welfare system. ■