BRASILIA: Congress early yesterday approved a deficit spending plan proposed by the government of interim president Michel Temer after 16 hours of debate.
The government said it is facing a record 170.5 billion reais (US$48 billion) primary budget deficit this year, far higher than suspended president Dilma Rousseff’s earlier fiscal target of a 97 billion reais deficit.
The new deficit target reflects what the economy team said is a significantly worse financial picture uncovered after Rousseff’s departure.
