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Desenrola Brasil: Launch and Rules
Launched exactly one month ago, on July 17, “Desenrola Brasil,” a program proposed by President Lula (PT), is already underway. Initially, debtors began negotiations with banks and financial institutions. It is estimated that 5 million Brazilians—with debts of up to R$ 100—managed to regularize their records.
For Desenrola Brasil beneficiaries, the initial focus is on those with a monthly income of no more than R$ 20,000 and bank debts registered by December 31, 2022. In September, during the next phase, stores and merchants will be the focus of renegotiations.
Economic Context and Program Objectives
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“Household indebtedness is the consequence of an unusual scenario, such as the pandemic and inflationary pressures resulting from international crises, leading to economic stagnation,” argues Marco Antonio Rocha, a professor at Unicamp’s Institute of Economics.
“Short-term national GDP growth is intrinsically linked to household consumption. Therefore, for an economic recovery to take place, it is crucial to restore people’s purchasing power,” explains the professor. “The program’s purpose is not limited to renegotiating debts; it is also crucial to increase wages and create jobs. After all, the idea is that, after renegotiating their debts, households will achieve financial sustainability and not fall back into debt. To this end, economic growth is essential,” he concludes.
First-Month Results and Outlook
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In the first 30 days, participating banks renegotiated debts totaling R$ 8.1 billion, according to the Brazilian Federation of Banks (Febraban) on the 16th. This period resulted in the renegotiation of 1.296 million contracts, benefiting approximately 985 thousand customers.
The institutions, in turn, promoted the regularization of records of individuals in debt up to R$ 100. According to Febraban, around 5 million records were corrected during this period. Although still in debt, these citizens had their names removed from negative credit databases, facilitating future repayment.
