Free Trial

Brazil Budget Bill Vote Postponed, Aid Bill May Be Delayed

  • Brazil Congress President Rodrigo Pacheco postponed the vote on the country’s budget bill, so-called LDO, to July 12 (today), 10am local time.
  • Postponement may delay a Lower House session to vote on the social benefits boost amendment bill, originally scheduled for the afternoon of July 12.
    • Government leader in the lower house lawmaker Ricardo Barros told journalists that the house will try to vote on the aid bill on Tuesday, but conceded that the vote may be postponed to Wednesday, July 13.
  • President Jair Bolsonaro on Monday announced his government has reached a deal to begin importing diesel fuel from Russia as part of measures to lower fuel prices at home. (Xinhua)
    • "It is settled. In 60 days diesel can start to arrive in Brazil from Russia," Bolsonaro told journalists from the government headquarters in Brasilia.
    • The president defended the decision to import Russian diesel, saying it is cheaper than other foreign suppliers chosen by the state oil company Petrobras.
    • "Brazil imports almost 30 percent of the diesel consumed in the country. We must import from those who sell at a better price and not accept the price of those who charge more," Bolsonaro said.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.