Power

Budget woes leave Brazil unable to make investments entering 2021

budget woes brazil
Senate floor already on vacation mode. Photo: Jefferson Rudy/Agência Senado

In a perfect world, governments finalize their budgetary priorities for the following year around July, allowing ample time for the actual budget to be drafted and approved. But the realm of Brazilian politics rarely coincides with the perfect world, especially during the presidency of Jair Bolsonaro, whose time in charge has been defined by his catastrophic relationship with Congress. And in 2020, the so-called Budgetary Directives Law (LDO) was passed by lawmakers on Wednesday, just days before Congress packs up and goes home for the end of the year. 

Approving the measure guarantees that Brazil will avoid a government...

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