With the voting of the second round of the presidential elections concluded, millions of Brazilians, with the most diverse levels of indebtedness, await the renegotiation promised by the then candidate Luiz Inácio Lula da Silva, who will take office in January 2023.
As 80% of families have debts, this measure could mark the return of a large contingent of people to the consumer market.
But, be careful, don’t get into debt because of this likely future financial relief. In the case of defaulters, it is necessary to resist the temptation to buy on Black Friday and to exaggerate Christmas gifts.
Even if this promise comes true, and the conditions are good (with discounts, reduction of interest and fines, and longer term), there will still be debt to be paid off.
Anyone who still has a formal job, and therefore has a salary of 13⁰, should prioritize the payment or abatement of debts. In addition, I do not see a major reduction in interest rates in the country on the near horizon.
Likewise, the increase in household income, if it occurs, will not be immediate. So, we have to wait for the new government’s economic measures, and their practical consequences, before going back to shopping with more intensity.
There are no miracles in economics. For example, elected and re-elected governors will certainly try to compensate for the reduction of ICMS (Tax on the Circulation of Goods and Services) on energy, fuels, natural gas, telecommunications and public transport. Perhaps some even resort to tax increases.
It is best to wait for the new political landscape before making financial commitments.
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