Rousseff gives 2016 budget full sanction
President Dilma Rousseff has sanctioned the Federal Budget for 2016 with no line-item vetoes. Passed by Congress last December, the Annual Budget Law includes a forecast of 1.9% decline in Gross Domestic Product (GDP) and 6.47% inflation.
By giving her full sanction to the draft approved by Congress, the president endorsed the $203.6 million state transfer to the so-called Party Fund, a high figure according to some experts. The rationale for maintaining this amount was the ban on corporate funding of political campaigns last year – this will be the first election year where the new rules apply. The fund money is split among the parties in proportion to the size of their benches in the Chamber of Deputies.
The approved budget goes on to cover a $5.97 billion revenue forecast for the Provisional Tax on Financial Transactions (CPMF), even though the proposed amendment to the Constitution reinstating the tax is still pending Congress approval.
Translated by Mayra Borges
Fonte: Rousseff gives 2016 budget full sanction
