06-2020 Latin American Economy & Business Report
Economy & Business Report
Airlines try to fly out of trouble
Education is to be the priority of President Rousseff’ssecond term. “Our slogan will be: Brazil, country of education!” she said. Royalties from the massive pre-salt oil fields off the coast of Rio de Janeiro will provide the bulk of the funding. At present, Brazil spends around 6.1% of GDP on education; Rousseff has set the goal at 10%. She named Cid Gomes, the capable and loyal former governor of Ceará, as her new education minister. On 6 January, Gomes announced a 13% hike in the minimum salary for teachers to R$1,918 (US$715) per month but it still remains a pretty poor salary, barely twice the value of the minimum wage.
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