Daud Akerele/
Measures announced by President Jair Bolsonaro to contain the impact of coronavirus in Brazil have been condemned as “far below what was announced in other countries”, according to a survey by the Fiscal Policy Observatory of the Brazilian Institute of Economics (Ibre / FGV), made by the economist Manoel Pires.
According to him, initiatives announced so far by the federal government – such as anticipating the 13th salary of INSS pensioners and retirees, temporary reduction of taxes for companies, expansion of the Bolsa Família program, new resources for the Ministry of Health and transfers to States and municipalities – account for about 4% of the country’s GDP.
In Germany, government spending to tackle the coronavirus crisis reached 37% of GDP on Monday (23/03), with the announcement of another 800 billion euro package (about R $ 4.4 trillion) ), notes Pires.
The measures include 156 billion euros (R $ 854 billion) to finance higher social spending. There is also provision for financial compensation for employees who have reduced working hours.
GDP is the set of goods and wealth generated by a country over a period of time, usually measured per year. The comparison of the values announced by the countries against the coronavirus crisis as a percentage of their GDPs allows us to see the effort that each nation has made, in proportion to the size of its economies.
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