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© Reuters. Brazil’s President Luiz Inacio Lula da Silva attends a session to promulgate the new tax reform at the National Congress in Brasilia, Brazil December 20, 2023. REUTERS/Adriano Machado/ File Photo
Exciting news from Brasilia! Brazil’s congressional budget committee has given the green light to the 2024 budget bill, and it’s causing a stir. President Luiz Inacio Lula da Silva’s growth acceleration program has received a shallower-than-expected spending cut, which has fueled anticipation and speculation.
The bill is now on its way to a joint session of Congress, where it will need to be voted on by both the lower house and the senate. The session is expected to take place tomorrow, so all eyes are on the outcome.
Recent developments indicate that lawmaker Luiz Carlos Motta has made significant changes to the bill, scaling back the proposed reduction in expenses for the “growth acceleration” program, also known as PAC. This follows a significant announcement just yesterday, where a substantial cut was proposed. However, today, the budget slash has been revised, causing quite a buzz.
Stay tuned for more updates on this compelling story!
($1 = 4.8844 reais)