Expectations regarding the spending cut package caused a nervous day for the financial market. The dollar surpassed the barrier of R$5.90 and closed at the highest price in the Plano Real. The Stock Exchange fell more than 1.5% and was below 128 thousand points.
The commercial dollar ended this Tuesday (27) sold at R$ 5.912, an increase of R$ 0.106 (+1.8%). The price spent the morning relatively stable, but began to rise in the afternoon, after news that the spending cut package will include an Income Tax exemption for those earning up to R$5,000. At its highest of the day, around 4pm, the US currency reached R$5.92.
With today’s performance, the dollar accumulates an increase of 2.27% in November. In 2024, the appreciation reaches 21.8%.
In the stock market, the day was also tense. The Ibovespa index, from B3, closed at 127,668.61 points, a drop of 1.73%. The indicator registered a slight increase in the morning, but collapsed after the release of news about the fiscal package.
During the afternoon, the Minister of Labor and Employment, Luiz Marinho, stated that the proposal will deal with the Income Tax table, but did not go into details. On the other hand, he confirmed that the package will propose the levying a tax on large fortunes and the limitation of super salaries in the public service.
At 8:30 pm, the Minister of Finance, Fernando Haddad, will present the measures in a speech on radio and television. This Thursday (28), the Ministry of Finance will hold a press conference to explain the details of the mandatory spending cut package.
* With information from Reuters
