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Brazil’s 2019 budget discussed in Congress

Forecasts include a $35.92 billion deficit

Publicado em 09/07/2018 - 15:29

Por Heloisa Cristaldo Brasília

Brazil’s Congress is expected to subject the country’s 2019 Budgetary Guidelines Law—LDO in the original Portuguese—to vote this week. A deal between party coordinators in a bicameral commission on budget should lead to the vote being held Wednesday (Jul. 11). On the same day, the LDO may be considered by lawmakers at a plenary session in Congress.

Senator Dalirio Berber, rapporteur for the document, drew up a rigorous report for next year’s budget as a result of the economic and fiscal crisis currently facing the country. The report includes no pay raise for civil servants, cuts down fiscal breaks, and bans the creation of new public posts.

Beber’s document forecasts a $35.92 billion deficit for the federal budget and $904.58 million for federal state-run companies (Petrobras and Eletrobras not included). The text also sets forth a ten percent decrease in administrative spending.

The Budgetary Guidelines Law outlines the targets and priorities for finances in the coming year and serves as a gauge for the drafting of the Budget.

Tradução: Fabrício Ferreira Edição: Valéria Aguiar / Nira Foster

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