This week, we break down Brazil’s coronavirus “War Budget.” The investigation into Jair Bolsonaro. The impacts of the oil crisis on the Northeast.
Brazil’s new “War Budget,” explained
Congress has officially passed the so-called “War Budget,” a coronavirus-related measure that essentially splits the federal budget into two, creating a new separate financial plan for Covid-19 spending. This “parallel” budget will not be bound by existing fiscal responsibility rules that typically block the government from increasing public debt on regular expenses. The bill also allows the Central Bank to provide businesses with bailout packages.
No limits. The government will be allowed...