Brazil’s Economy Ministry announced on Tuesday a freeze of BRL 1.72 billion (USD 354 million) in public expenses foreseen in the 2022 budget to meet requirements of the federal spending cap. It is not clear what areas will suffer greatest cuts, and details will be laid out through a presidential decree later this month.
In its latest budget report, the economy ministry says the move is necessary as mandatory expenditure — such as personnel costs — was previously underestimated. Some of the frozen funds will be diverted to increase subsidies, such as the Harvest Plan, to promote agricultural development.
The government may still need to impose further budget cuts in the coming months, as Congress has yet to approve supplementary credit of BRL 2.5 billion.
While the government remains strapped for cash, civil servants are putting pressure on the Bolsonaro administration for hefty wage increases to match Brazil’s inflation rate over the past two years. Labor unions were told to expect a decision on their demands by April 1. However, the cutoff point for civil servants’ wage increases is April 4 due to the upcoming elections.
Panama was once a part of Colombia. Its canal, a monumental engineering achievement of its…
The specialization trend among corporate board members It is not only a matter of perception:…
Panama will hold its presidential elections on Sunday, months after huge protests saw thousands descend…
The city of Rio de Janeiro estimates that a Madonna concert this Saturday on Copacabana…
Latin America’s trend of banning opposition candidates from elections has caught on in an ever-growing…
The São Paulo City Council on Thursday approved legislation authorizing Brazil’s largest city to sign…