{"id":148848,"date":"2017-12-14T12:40:00","date_gmt":"2017-12-14T14:40:00","guid":{"rendered":"https:\/\/anba.com.br\/brazils-2018-budget-set-at-usd-1-trillion\/"},"modified":"2019-06-30T12:44:03","modified_gmt":"2019-06-30T15:44:03","slug":"brazils-2018-budget-set-at-usd-1-trillion","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazils-2018-budget-set-at-usd-1-trillion\/","title":{"rendered":"Brazil\u2019s 2018 budget set at USD 1 trillion"},"content":{"rendered":"<p>Bras&iacute;lia &ndash; Brazil&rsquo;s National Congress approved on Wednesday evening (13) the 2018 Budget Bill, with BRL 3.57 trillion (USD 1.07 trillion) in spending provisions, including government debt refinancing payments. Approved in a symbolic vote after close to two hours&rsquo; worth of discussions, the 2018 Budget includes an earmarked BRL 1.716 billion (USD 518.5 million) for a special campaigns fund (Fundo Especial de Financiamento de Campanha &#8211; FEFC) for the 2018 elections. <\/p>\n<p>This is the first Budget passed since expenditure cap constitutional amendment (Emenda Constitucional do Teto de Gastos) that prohibits government spending from exceeding the prior year&rsquo;s inflation rate, effective for a 20-year period. The Budget Bill is now pending presidential sanction.<\/p>\n<p>The budget draft works with a BRL 157 billion (USD 47.4 billion) 2018 primary deficit forecast, unlike the budget allocation law (Lei de Diretrizes Or&ccedil;ament&aacute;rias &#8211; LDO), which included a BRL 159 billion (USD 48 billion) deficit forecast. Gross Domestic Product (GDP) is seen growing 2.5% next year. The minimum wage is set at BRL 965 (USD 291), up BRL 28 (USD 8) from this year&rsquo;s BRL 937 (USD 283) base wage. <\/p>\n<p><strong>*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Congress approved next year\u2019s budget on Wednesday evening. A special election campaigns fund will account for USD 513 million out of the total amount.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-148848","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The National Congress approved next year\u2019s budget on Wednesday evening. A special election campaigns fund will account for USD 513 million out of the total amount.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/148848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=148848"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/148848\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=148848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=148848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=148848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}