Pix Can stop due to Bolsonaro’s spending cut?

Pix According to a recent decision by the Federal Government, the Central Bank will suffer cuts in its budget and, without sufficient funds, may reduce investments in Pix or even interrupt its operation, according to market observers. This was motivated by the lack of control of public accounts in front of the spending ceiling and may be related to promises that President Jair Bolsonaro made to businessmen.

But, after all, why would that only affect Pix and not other forms of payment? The answer is quick: only Pix is ​​fully processed by the Central Bank, while DOC and TED are made through the systems of the banking institutions themselves, not being impacted by the budget change.

BC guarantees continuity of Pix

Contrary to the news, which warns of the “imminent interruption” of the instant payments system, the Central Bank guaranteed that the new budget will be managed in a way that does not harm Pix and its evolutionary agenda. The information was collected and disseminated by Exame Invest.

Since its launch in November 2020, the system has totaled more than R $ 278 billion distributed in more than 393.6 million transfers made. The next step would be the internationalization of Pix, which would allow the real-time transfer of national resources abroad. However, the measure is still under analysis by the Central Bank.

Cuts at IBGE and family farming

According to the Globo newspaper, the government also cut other expenses, this time in the family agriculture financing program, the National Family Agriculture Strengthening Program (Pronaf). “These are undue cuts in discretionary expenses. The government’s maneuver now is to put several expenditures above the ceiling so as not to cut the amendments, the hole-in-the-roof. They acted in the same way with the IBGE, when, with the cuts, they prevented the Census from taking place, ”said journalist Míriam Leitão in a publication on Globo.

Also according to the vehicle, this “budgetary confusion” raises speculation about the Brazilian fiscal risk, which can take the dollar once again to the heights, generating more suspicion about Brazil’s ability to keep its accounts in order.

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