Week of May 18

BRAZIL POLITICS - Report 18 May 2015 by Murillo de Aragão and Cristiano Noronha

The fiscal austerity measures remain on the political agenda. The House may vote on the bill on payroll tax exemptions and on MP 668/15 (PIS and Cofins for imports). In the Senate, analysis of MP 665/14, on unemployment insurance and salary bonuses, is on the agenda. By Friday, the government will announce budget cuts.

Budget cuts this week

By Friday, May 22, the government will announce cuts to the budget of between R$ 60-80 billion. The economic team is advocating a larger amount in order to meet the primary surplus, fixed this year at R$ 66.3 billion (1.2% of GDP)....

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