Brazil Unveils Measures to Counter Economic Impact of International Conflict

Brazil plans to introduce measures to mitigate the economic effects of the U.S.-Israeli conflict with Iran, focusing on stabilizing fuel prices. The government is also considering a new bill to reduce the six-day workweek, though tax breaks for employers seem unlikely.

Brazil's government is poised to enact new strategies to alleviate the economic repercussions of the U.S.-Israeli conflict with Iran. Plans include controlling gasoline prices, Institutional Relations Minister Jose Guimaraes announced in Brasilia on Thursday.

Guimaraes disclosed that the details are under refinement and that the Finance Ministry is scrutinizing fuel prices as part of this initiative. The government is preparing for a conflict duration of up to two months while acknowledging economic uncertainties.

Additionally, Brazil is considering a legislative proposal to alter the existing six-day workweek. Although it faces business group resistance and potential Congressional negotiations, the initiative aligns with President Lula's electoral platform for October. However, any transition is unlikely to include tax breaks.

(With inputs from agencies.)