A report prepared for Brazil’s Joint Congressional Budget Committee, released Monday, recommends passage of the government’s controversial 2017 federal budget proposal. Congressman Wellington Fagundes, report author and committee member, recommended passage of the budget along with a proposed constitutional amendment limiting future budget increases to no more than previous-year inflation. The committee is expected to vote on the recommendation later this week. The budget is controversial. Critics say it does relatively little to reduce Brazil’s yawning deficits. The proposal provides for a 2017 primary budget deficit of R$139 billion for the federal government and R$143.1 billion for the entire public sector. This year’s public sector primary deficit is projected at more than R$170 billion.
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