Stocks close the semester with the biggest drops since 1970; see how the aid PEC turned out

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It was approved in Senate The PEC which institutes a series of benefits for those who receive Auxílio Brasil, in addition to taxi drivers and truck drivers. The project also provides free public transport for the elderly and subsidies for ethanol.

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The final cost of the proposal is estimated at around BRL 41 billion, and there was only one vote against a measure considered popular, but which worsens the management of public accounts and brings a new fiscal risk .

In addition, stock exchanges around the world had their worst semester in years, with United States having the biggest drop since 1970. In Brazil, the Ibovespa had the biggest drop since March 2020.

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The fall reflects the fear of global stagflation, with low growth and inflation high. Government bonds had their worst half in two centuries, and economists are already questioning the effectiveness of interest rates to fight inflation.

Presented by Thais Herédia and Priscila Yasbek, the CNN Money presents a balance of news issues that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.

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*Posted by João Pedro Malar

Source: CNN Brasil

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