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The FGTS withdrawal would be better than in 2017, the executive says



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FGTS's aggressive account withdrawal, which was investigated by the Brazilian Ministry of Economic Affairs and Trade, will be conducted in a better context than in 2017, according to the Chairman of the Brazilian Consumer Retailing Association (SBVC). ), Eduardo Terra. According to Terra, the stimulus package should not double the Gross Domestic Product (GDP), but it can improve growth.

He emphasized that it would be the right medicine at the right time. For Terra, the problem of resources released from the inactive accounts of FGTS in 2017 is that there is no order of stimulation. In that year, 44 billion yuan was recovered and GDP rose by 1.0%.

Currently, the government has continuously revised down this year's economic growth rate and GDP has increased by 0.81%. According to Terra, the withdrawal of the FGTS argued that the reforms should favor the economy because it creates a favorable environment. But he said the government's goal is to accelerate economic growth by 2020 even after more than half of this year.

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