Brazil's Lula signs Move Brasil credit line for app drivers, taxi drivers

President Lula signed into law a bill converting the Move Brasil program, a government credit line of up to R$30 billion for taxi and app drivers to purchase new cars up to R$200,000, with reduced interest rates (12.6% for men, 11.5% for women) and up to 72-month terms. The program, originally a provisional measure, aims to stimulate auto sales and support gig workers, but its fiscal impact and uptake remain uncertain. This is a targeted credit stimulus that could modestly boost domestic consumption and auto sector activity.