Temer Scores Big Win With First Vote of Brazil Spending Cap

Brazil’s President Michel Temer secured his most important congressional victory to date as the lower house overwhelmingly supported a constitutional amendment that will cap growth in public spending as part of the government’s efforts to tackle a near-record budget deficit.

Lawmakers approved the controversial proposal with 366 votes in favor, while 111 voted against. The government needed a minimum of 308 votes, equivalent to three-fifths of the entire lower house, to support the bill in the first of two rounds of voting. The amendment proposes freezing public spending in real terms, with increases limited to the previous year’s rate of inflation, for at least the next 10 years.

Read more

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s