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Brazil’s Lula to Decide on Fiscal Measures After Foreign Trips, Finance Minister Says
The proposal would make year-end spending freezes reduce future budget limits as the government seeks to reassure investors after a market sell-off.
- On Thursday, Finance Minister Dario Durigan announced that President Luiz Inacio Lula da Silva convened his economic team to discuss fiscal scenarios and proposals addressing Brazil's mounting debt crisis.
- Rising mandatory spending has pushed Brazil's gross debt to 82.9% of gross domestic product, prompting investors to demand higher risk premiums for government debt amid fiscal concerns.
- The government previously froze R$13.65 billion this year to offset revenue losses, while officials are exploring turning temporary spending freezes into lasting structural cuts.
- Durigan stated that "when the president returns from his trip, we should have more information," referring to travels to Turkey and the Philippines scheduled through November 15.
- Officials aim to send a signal soon so Congress can pass measures this year, seeking to avoid a repeat of late 2024 when a spending-control package disappointed the market.
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Brazil's Lula to decide on fiscal measures after foreign trips, finance ...
·London, United Kingdom
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Total News Sources50
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
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