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The Real is devalued in Brazil: Lula da Silva announced a growth in debt while massively increasing public spending

The contradictory measures of the progressive-globalist president progressively deteriorate confidence in the Brazilian currency. The debt increases while the fiscal deficit rises in the first months of 2023.

The new government shows no qualms about abandoning fiscal discipline and consuming the surplus inherited from the Bolsonaro administration.

President Lula da Silva announced that the exemption from the Federal Fuel Tax would continue to be in force in 2023, while the previous administration had scheduled its repeal.

The tax exemption will remain unchanged until December in the case of diesel and biodiesel.

It will last until March for gasoline and . . .

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