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Bolsonaro's Team Prepares For Spending Rule Adjustment

BRAZIL
  • Brazil’s economic team is discussing proposals to change the country’s most important fiscal rule, potentially allowing the next government that takes over in January to boost spending. (BBG)
  • Currently, the nation’s main fiscal anchor is the so-called spending cap rule that limits the growth of public expenditures to the previous year’s inflation rate.
    • There is a broad consensus among economists and politicians that the law is flawed in its current form, and whoever wins the October election will have to propose a new way to anchor public accounts.
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