Bolsonaro Declares Brazil Bankrupt!

A few days ago, Brazil's President Jair Bolsonaro declared that his country is bankrupt, attributing the crisis to “this virus fueled by the press”.

The announcement comes at a time when the aid that saved millions of people from poverty has ended.

“Brazil is bankrupt. I can not do anything. I wanted to change the grid of tax cuts, but there was this press-fueled virus that we have here, this uninspiring press," Bolsonaro said.

Bolsonaro was referring to the reform for raising the level of tax-exempt income, a campaign pledge by the far-right leader, who came to power with a liberal economic program.

For the Brazilian president, the economic collapse of the country is linked to the restrictions recommended by the governors to fight against the coronavirus pandemic, which has already killed nearly 198,000 people in Brazil.

He has also grown in popularity thanks to the emergency aid given over nine months to 68 million Brazilians, or nearly a third of the population.