Brazil’s Lula to Decide on Fiscal Measures After Foreign Trips, Finance Minister Says
The package would let temporary spending freezes lower future spending limits and help deliver about R$50 billion to R$60 billion in savings in 2027, officials said.
- On Wednesday, Planning Minister Bruno Moretti presented a legislative package to the Joint Budget Committee aimed at saving up to R$60 billion in 2027.
- President Luiz Inacio Lula da Silva's re-election on October 25 prompted a sell-off of Brazilian assets as investors expressed concern over debt rising to 82.9% of GDP.
- Filed by Senator Jaques Wagner as Complementary Bill 299/2026, the proposal limits real spending growth to 2% during containment years, down from 2.5%, and cuts corporate tax breaks by 10%.
- The Senate began debating the package Wednesday, with a potential vote scheduled for Thursday, November 12, as the administration seeks to stabilize the economy and lower borrowing costs.
- Officials intend for these structural adjustments to place public debt on a downward trajectory following 2029, when debt is projected to peak at 87.8% of economic output.
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In his first speech on television since re-election, he also released an indirect to defeated candidate Flávio Bolsonaro (PL), who left for the United States two days after the second round. "I never left my country," said the petist.
Brazil Government Proposes 80 Billion Reais Fiscal Adjustment Through 2027
The administration of Luiz Inácio Lula da Silva has initiated discussions with the Senate regarding a fiscal adjustment package designed to reduce government expenditures by up to 80 billion reais by 2027. The central mechanism under consideration involves modifying the calculation formula for mandatory spending on health and education, rather than implementing direct budget cuts. The proposed Provisional Legislative Measure (PLP) aims to exclud…
Brazilian President Luiz Inácio Lula da Silva said that before going to the polls, the Brazilian population took to the streets and used social networks to defend rights, causes and hopes.
The result of the presidential election is a paradox that no speech of victory explains. The government that presents itself as that of the poor funds itself to pay interest to the rich.
Lula Consults Mantega, Leftist Economists on Plans for New Term
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