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2021 Budget To Go Through With $3.6 Billion in Vetoes

BRAZIL
  • Brazil's President Jair Bolsonaro is about to sign into law the country's 2021 budget bill with vetoes that will reduce expenses by 20 billion reais ($ 3.6 billion), said two people with knowledge of the matter who requested anonymity because the discussions are not public.
  • Budget will ensure that congress still has 16.5 billion reais for investments in states, as agreed between Bolsonaro and Lower House Speaker Arthur Lira
  • In addition to the vetoes, the government will still have to freeze discretionary spending to balance the budget, the people said
    • A bill with that adjustment will be sent to congress (Bloomberg)

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