Brazil’s Lula raises existential minimum to R$600 (US$125)

President Luiz Inácio Lula da Silva has announced an increase in Brazil’s existential minimum, the income threshold below which an individual’s funds cannot be seized by creditors, from R$303 to R$600 (US$125).

The adjustment, which should be officially documented in the Union Official Gazette soon, aims to offer greater financial security to individuals facing over-indebtedness.

President Lula announced the initiative via Twitter, explaining that it was designed to enhance credit and consumption conditions for Brazilians, thereby stimulating the national economy.

The measure will benefit around 15 million people, enabling them to renegotiate their debts with increased protection against potential over-indebtedness.

The National Consumer Secretariat of the Ministry of Justice and Public Safety plans to coordinate periodic meetings focused on debt rescheduling as part of a broader effort to prevent and manage consumer over-indebtedness.

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