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Appeal Was Made During The National Supply Chain Forum, Organized By The Brazilian Supermarket Association (Abras) On Thursday (9)
Last Thursday (9), a National Supply Chain Forum was held, organized by the Brazilian Supermarket Association Supermarkets (Abras), which was attended remotely by President Jair Bolsonaro and Minister of Economy Paulo Guedes. During the event, there was an appeal from the federal government leadership for supermarkets to freeze prices, especially of the basic basket, to overcome the inflation of 2022. Could we then become a new Venezuela?
The price freezing policy has been previously adopted, through government decrees, in countries like Venezuela, Argentina, and even here in Brazil, in the 1980s. However, this method to contain inflation proved ineffective as it led to shortages in various supermarkets. Read the article and find out today if Brazil could become a new Venezuela.
See How Bolsonaro And Guedes’ Statements To Contain Inflation In 2022 Were With The Video Below
Bolsonaro Asks Supermarkets To Freeze Prices Until The End Of The Year, Especially Basic Food Products
The statements made on Thursday (9) followed the release of some figures by the Brazilian Institute of Geography and Statistics (IBGE). According to the data, although inflation slowed down by 0.47% in May, the IPCA has already accumulated 11.73% over the past twelve months, which is concerning and indicates the rise of inflation in 2022.
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“The appeal I make to you, to the entire production chain, is for the products in the basic basket to obtain the lowest possible profit, so we can provide satisfaction to a considerable part of the population, especially the less fortunate”
Jair Bolsonaro in a statement during the Abras (Brazilian Supermarket Association) event in 2022
At another moment, he stated that in difficult times like we are going through, we need a joint effort for Brazil to prosper again. According to the report, the efforts come from reducing profit margins, which would be essential at this moment.
“In difficult times, I understand that we all have to cooperate. I know that profit margins have been increasingly decreasing. You have already cooperated in this sense, but cooperate a little more on the profit margins of basic food products. If this is met, I am very grateful; if not, it’s because it’s not possible”
Jair Bolsonaro in a statement during the Abras (Brazilian Supermarket Association) event in 2022
At the end of his speech, he also stated that he hopes for a quick end to the war between Ukraine and Russia, as this could help the global scenario.
“We have faith in God that this crisis between the two countries will come to an end soon, just like the virus, which, by all indications, has already reached its endpoint”
Jair Bolsonaro in a statement during the Abras (Brazilian Supermarket Association) event in 2022
Paulo Guedes Speaks And Reinforces The Price-Freezing Request Made By Bolsonaro
Reiterating what the head of the executive requested, Paulo Guedes made his statements about keeping profits low and emphasized that the effort is collective to combat inflation in 2022.
“I conclude by reinforcing the request, which is this: now is the time to put a brake on this price increase. It’s voluntary; it’s for the good of Brazil. Just as governors need to put their hands in their pockets and help Brazil, Brazilian entrepreneurs need to understand the following: slow down a bit because we have to break this inflationary chain”
Paulo Guedes, Minister of Economy, during the Abras (Brazilian Supermarket Association) event in 2022
He went on to say that taxes can be controlled by the government, but the price table is something more complicated to control.
“The conversation is as follows: ICMS, IPI, we reduced, so along the chain, a truce. New price table only in 2023. Freeze the prices. Let’s stop increasing prices for 2 or 3 months. We are at a crucial moment for Brazil.”
Paulo Guedes, Minister of Economy, during the Abras (Brazilian Supermarket Association) event in 2022
After All, Can Brazil Really Become A Venezuela?
At first, no. Paulo Guedes and Bolsonaro made only an “appeal” to the Abras and traders to help relieve the population from the pinch of inflation in 2022. However, there was no decree, and there is also no forecast for mandatory price freezing.
Thus, we must wait for the next chapters. After all, the highest levels of government do not signal an obligation to freeze prices. Therefore, we are far from being a Venezuela, with supermarket shortages.
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