EXCLUSIVE: Brazil must observe spending ceiling in 2021 – Deputy Minister

EXCLUSIVE: Brazil must observe spending ceiling in 2021 – Deputy Minister

Debt Corporate & Sovereign Strategy Economy & Policy Equity Fixed Income Regulation Brazil Latin America

Brazil's emergency spending increases to combat the impact of the COVID-19 pandemic next year must be balanced by spending cuts in other programs to avoid the debt burden becoming unmanageable, Brazil’s deputy economy minister for foreign trade, Roberto Fendt, said on Thursday. "Brazil’s Constitution says we have to obey a ceiling on expenditures [so] any new cash transfer program would require some current expenditure already scheduled be compressed," Fendt, officially the Special Secretariat f

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