Maricá: project gains strength with royalties

Mumbuca, local currency of Maricá (municipality of the Metropolitan Region of Rio de Janeiro), was created in 2013 and is gaining prominence, especially now in municipal elections. The currency is the basis of an income transfer project that passes on 130 reais per month to 42,500 inhabitants who earn up to three minimum wages, a quarter of the population. Awarded oil royalties, the city took advantage of recent gains from the discovery of pre-salt to expand the program. 

The currency can only be used in the municipality, which moves local commerce and services and ensures an increase in tax revenue. According to The Fluminense Federal University's Professor of Economics, Fábio Waltenberg, the impact of the program on the city has been significant: "The project even distributed 300 reais at the height of the Covid-19 crisis, put a lot of money into circulation and made the municipality guarantee a positive balance of jobs, even in the worst months of the disease."

The local currency has gained international fame and serves as the basis for campaign proposals by Brazil, such as Benedita da Silva, Manuela d'Ávila, Celso Russomanno, Guilherme Boulos, João Derly and Jilmar Tatto, among others. The problem in question would be whether cities would have breath to take the project, since in maricá's case, the program was strengthened with oil royalties.

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