Brasilia, July 10 (SocialNews.XYZ) Brazil has been coping well with the economic challenges caused by inflation, and the current problems faced by the population "are fleeting", President Jair Bolsonaro said, defending his government's economic measures.
The President also highlighted how his government had created an emergency aid program and a program that paid workers from companies that had suspended contracts or reduced wages during the most critical period of the pandemic in 2020, reports Xinhua news agency.
The country's inflation index, the National Broad Consumer Price Index, stood at 0.67 per cent of June, with an 11.89 per cent cumulative change in the last 12 months, the Brazilian Institute of Geography and Statistics said.
The central bank has set an inflation target of 3.5 per cent for 2022.
The 8.98 per cent drop in fuel prices in the last three weeks was the result of a new law obliging states to reduce taxes destined to finance the education and health systems, said Bolsonaro.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz