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Lula Increases Welfare Payments Before Election

Bloomberg Markets •
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Brazil's government announced an increase to social welfare payments just weeks before a tense election, with polls showing President Luiz Inacio Lula da Silva tied with his right-wing challenger. The government will boost minimum monthly payments to 691 reais ($133.85) from the current 600 reais under the program known as Bolsa Familia, Planning Minister Bruno Moretti announced at an event alongside Lula in Brasilia. The timing of the increase highlights the administration's focus on social policy as the vote approaches.

The adjustment aims to support low-income families amid economic uncertainty.