HomeWorld NewsBrazil's Transition Group Could Include Fiscal Anchor Commitment in Waiver Proposal -Party...

Brazil’s Transition Group Could Include Fiscal Anchor Commitment in Waiver Proposal -Party Leader

(Reuters) – Brazil President-elect Luiz Inacio Lula da Silva’s transition team could include a commitment to adopt a new fiscal anchor in a proposed constitutional amendment, the leader of Lula’s Workers’ Party said in the lower house on Friday.

The fiscal anchor, a mechanism to limit over-spending, would be included in a proposed amendment that looks to exempt a social welfare program from the country’s spending cap.

Congressman Reginaldo Lopes said in an interview with local broadcaster Globo News that the new mechanism was in order, but that the government would also have to revise a law on fiscal responsibility to include 10-year goals related to education and unemployment.

(Reporting by Ricardo Brito)

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