The adjustment to BRL 1,412 is based on the 3.85 percent inflation rate, as measured by the National Consumer Price Index (INPC) over the 12 months ending in November.
Each year, the Budgetary Guidelines Law (LDO) sets a primary surplus or deficit target that must be met by the federal and local governments, and state-owned companies.
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).
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