By Lisandra Paraguassu and Jamie McGeever
BRASILIA (Reuters) – Brazil’s President Jair Bolsonaro took to social media on Tuesday to hit back at accusations his government is using accounting gimmicks to fund a new minimum income program without breaking its spending cap, its most important fiscal rule.
Bolsonaro’s charm offensive comes as Brazilian markets were under pressure for a second day on fears the spending spree shows he is unwilling to take the tough decisions needed to rein in record deficit and debt, and get the public finances back to health.
Fiscal responsibility and the spending cap are the “rails of the economy,” wrote Bolsonaro, who critics say is pushing this scheme and the controversial way it is funded with an eye on the 2022 presidential elections.
“Those responsible for destroying millions of jobs are now silent. My government seeks to anticipate the serious social problems that may arise in