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São Paulo: Flavio Bolsonaro pledges 200 billion real fiscal adjustment ahead of runoff
Nine days before Brazil's presidential runoff, Senator Flavio Bolsonaro told TV Globo he would deliver a 200 billion real (about $39.5B) fiscal adjustment if elected, while rejecting any cuts to social spending.
Why it matters
With Brazil's presidential runoff against Luiz Inacio Lula da Silva just nine days away, right-wing Senator Flavio Bolsonaro — eldest son of former President Jair Bolsonaro and the current polling leader — pledged in an interview with TV Globo's Jornal Nacional on Friday that he would deliver a 200 billion real (about $39.49 billion) fiscal adjustment in the federal budget if elected, without touching politically sensitive social spending commitments. Reuters reported the story from São Paulo on October 16.
Full report
Bolsonaro dismissed media reports that his campaign was considering halting real minimum wage increases, eliminating automatic adjustments for social benefits, or reducing mandatory social expenditures. "There has been a lot of fake news circulating, and this is an important moment to set the record straight," he said. Instead, he said the adjustment would come from eliminating ministries, tackling mismanagement at state-controlled firms, and monetizing federal real estate assets.
Brazil's gross debt has risen more than 10 percentage points during Lula's term to 82.9% of GDP, though long-term interest rates have fallen since Bolsonaro's first-round victory. He also said he would not seek to reverse a constitutional amendment approved on Wednesday shortening Brazil's working week from six to five days.
Source: Reuters (Oct 16, 2026, São Paulo).
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