TEMER'S FISCAL TAGET
APROVED IN BRAZILIAN CONGRESS
APROVED IN BRAZILIAN CONGRESS
[ENGLISH VERSION]
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Opinion
Temer
Earns First Win as Brazil Congress Approves Fiscal Target
Arnaldo Galvao and
Anna Edgerton
Anna Edgerton
Recommended
Lawmakers voted
after marathon session that ran past midnight
Temer ‘has the tools to advance his
reform agenda’ -- Eurasia
Brazil’s
Acting President Michel Temer enjoyed his first victory in Congress
on Wednesday when legislators approved his request to change this
year’s budget target.
Acting President Michel Temer enjoyed his first victory in Congress
on Wednesday when legislators approved his request to change this
year’s budget target.
Actong
Brazilian President Michel Temer on May 24.
Brazilian President Michel Temer on May 24.
Photographer:
Evaristo Sa/AFP/Getty Images
Evaristo Sa/AFP/Getty Images
Lawmakers
in a joint session of Congress supported government legislation
that allows it to post a budget gap before interest payments of
170.5
billion reais
($47.7 billion) in 2016, rather than a primary surplus as proposed
by the previous administration. The Senate and lower house voted
following a marathon session that ran well past midnight. The voting
tally wasn’t immediately made public.
in a joint session of Congress supported government legislation
that allows it to post a budget gap before interest payments of
170.5
billion reais
($47.7 billion) in 2016, rather than a primary surplus as proposed
by the previous administration. The Senate and lower house voted
following a marathon session that ran well past midnight. The voting
tally wasn’t immediately made public.
Michel
Temer
Temer
Photographer:
Evaristo Sa/AFP via Getty Images
Evaristo Sa/AFP via Getty Images
Investors
use Brazil’s primary budget result to gauge the country’s fiscal
health and its ability to service debt. The country last year
lost its investment-grade status after the three major rating
companies expressed growing concern over government finances. Had
lawmakers rejected the administration’s request, it would have
been forced to drastically cut spending and shut down many
government services in order to meet the original target of a
primary surplus.
use Brazil’s primary budget result to gauge the country’s fiscal
health and its ability to service debt. The country last year
lost its investment-grade status after the three major rating
companies expressed growing concern over government finances. Had
lawmakers rejected the administration’s request, it would have
been forced to drastically cut spending and shut down many
government services in order to meet the original target of a
primary surplus.
Wednesday’s
win is an important signal that Temer can garner support for
legislation in a Congress that until recently was stuck in gridlock
amid a political crisis. He now faces the challenge of sustaining
that support as he asks lawmakers to pass unpopular fiscal-austerity
measures that are designed to shrink the near-record budget deficit.
win is an important signal that Temer can garner support for
legislation in a Congress that until recently was stuck in gridlock
amid a political crisis. He now faces the challenge of sustaining
that support as he asks lawmakers to pass unpopular fiscal-austerity
measures that are designed to shrink the near-record budget deficit.
For
a detailed look at Brazil’s fiscal crisis, click here.
a detailed look at Brazil’s fiscal crisis, click here.
“There’s
a feeling that the government does have a coalition and passed this
first test in the legislative process,” said Rafael Cortez,
political analyst at Tendencias Consultoria Integrada. “The hope
is that it can hold on to that to approve the economic measures.”
a feeling that the government does have a coalition and passed this
first test in the legislative process,” said Rafael Cortez,
political analyst at Tendencias Consultoria Integrada. “The hope
is that it can hold on to that to approve the economic measures.”
Top
Job
Temer,
75, took over Brazil’s top job less than two weeks ago on promises
to unify a country that grew increasingly polarized during his
predecessor Dilma Rousseff’s impeachment battle. While her
supporters still denounce Temer as the architect of a coup against
her government, his administration enjoys the support from many
legislators who until a few months ago were loyal to Rousseff.
75, took over Brazil’s top job less than two weeks ago on promises
to unify a country that grew increasingly polarized during his
predecessor Dilma Rousseff’s impeachment battle. While her
supporters still denounce Temer as the architect of a coup against
her government, his administration enjoys the support from many
legislators who until a few months ago were loyal to Rousseff.
"Temer
has averted conflict with parties that could become part of his
allied base," said Thiago Vidal, a political analyst at
Brazilian consulting firm Prospectiva. "The result of today’s
vote was widely expected."
has averted conflict with parties that could become part of his
allied base," said Thiago Vidal, a political analyst at
Brazilian consulting firm Prospectiva. "The result of today’s
vote was widely expected."
The
acting president is betting he can pick up additional political
capital if he manages to put the recession-battered economy back on
track. To achieve that goal, Temer said on Tuesday he’ll ask
Congress to limit subsidies and approve a cap on government
spending. He also suggested he could shut down Brazil’s sovereign
wealth fund and improve corporate governance at public pension funds
and state-run companies.
acting president is betting he can pick up additional political
capital if he manages to put the recession-battered economy back on
track. To achieve that goal, Temer said on Tuesday he’ll ask
Congress to limit subsidies and approve a cap on government
spending. He also suggested he could shut down Brazil’s sovereign
wealth fund and improve corporate governance at public pension funds
and state-run companies.
Structural
reforms including a limit on government spending are more important
than one-time budget cuts for putting Brazil’s fiscal accounts in
order, Finance Minister Henrique Meirelles said Tuesday. The
spending ceiling will be adjusted according to inflation from the
previous year, with expenditure requirements for health and
education subject to that limit, he added.
reforms including a limit on government spending are more important
than one-time budget cuts for putting Brazil’s fiscal accounts in
order, Finance Minister Henrique Meirelles said Tuesday. The
spending ceiling will be adjusted according to inflation from the
previous year, with expenditure requirements for health and
education subject to that limit, he added.
‘Reform
Agenda’
Two
of the measures announced Tuesday -- scrapping the country’s
sovereign wealth fund and asking development bank BNDES to repay its
Treasury debt -- could be implemented by executive decision, and
both would help reduce the public debt.
of the measures announced Tuesday -- scrapping the country’s
sovereign wealth fund and asking development bank BNDES to repay its
Treasury debt -- could be implemented by executive decision, and
both would help reduce the public debt.
Yet
the spending cap entails amending the constitution. To achieve
that, the government would need support from at least
three-fifths of Congress. Members of Temer’s political party say
they’re confident they have enough votes even after Romero Juca --
who was spearheading efforts to pass the measures in Congress -- was
forced
to leave
Temer’s cabinet this week and return to his previous job as
senator.
the spending cap entails amending the constitution. To achieve
that, the government would need support from at least
three-fifths of Congress. Members of Temer’s political party say
they’re confident they have enough votes even after Romero Juca --
who was spearheading efforts to pass the measures in Congress -- was
forced
to leave
Temer’s cabinet this week and return to his previous job as
senator.
"While
Juca’s departure was a setback, everything suggests the Senator
will remain a key leader coordinating Temer’s reform agenda in
Congress," analysts at political consulting firm Eurasia Group
wrote in a research note on Tuesday. "Temer’s reform agenda
will advance."
Juca’s departure was a setback, everything suggests the Senator
will remain a key leader coordinating Temer’s reform agenda in
Congress," analysts at political consulting firm Eurasia Group
wrote in a research note on Tuesday. "Temer’s reform agenda
will advance."
==//==
21/05/2016
13h18
Brasília
Paulo Victor Chagas reports from Agência
Brasil
Brasil
Interim
President Michel Temer decided to go to Congress next Monday (May
23) to present the new fiscal target proposal for this year—a
$48.1 billion budget deficit.
President Michel Temer decided to go to Congress next Monday (May
23) to present the new fiscal target proposal for this year—a
$48.1 billion budget deficit.
The
estimated amount exceeds the $27.3 billion deficit announced in
March by the economic team of President Dilma Rousseff, who is now
suspended.
estimated amount exceeds the $27.3 billion deficit announced in
March by the economic team of President Dilma Rousseff, who is now
suspended.
Temer
met with his economic team before Finance Minister Henrique
Meirelles announced the new proposal on Friday (20). His planned
appearance before Congress is meant as a message of respect for the
legislature, who must approve the new target, and an attempt to
sensitize them to important economic measures for the government,
beginning with the fiscal target.
met with his economic team before Finance Minister Henrique
Meirelles announced the new proposal on Friday (20). His planned
appearance before Congress is meant as a message of respect for the
legislature, who must approve the new target, and an attempt to
sensitize them to important economic measures for the government,
beginning with the fiscal target.
The
National Congress has until May 30 to approve Temer's new fiscal
target proposal. The former proposal announced by Rousseff's
administration in March—revising the $6.7 billion surplus to a
$27.3 billion deficit—was left unvoted as Congress shifted its
focus to the impeachment proceedings.
National Congress has until May 30 to approve Temer's new fiscal
target proposal. The former proposal announced by Rousseff's
administration in March—revising the $6.7 billion surplus to a
$27.3 billion deficit—was left unvoted as Congress shifted its
focus to the impeachment proceedings.
Translated by Mayra Borges
Edited by: Luana
Lourenço / Nira Foster
Lourenço / Nira Foster
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==//==
[PORTUGUESE VERSION]
SOURCE/LINK:http://economia.estadao.com.br/noticias/geral,governo-aprova-nova-meta-fiscal-no-congresso,10000053318
Governo
aprova nova meta fiscal no Congresso
Rachel Gamarski, Valmar Hupsel Filho, Daiene
Cardoso - O Estado de S.Paulo
Cardoso - O Estado de S.Paulo
25 Maio 2016 | 05h 39 - Atualizado: 25 Maio 2016
| 05h 39
| 05h 39
Sessão, que durou mais de 16h, foi marcada
pelas tentativas da oposição de obstruir a votação
BRASÍLIA
- Em votação simbólica, o Congresso Nacional aprovou na madrugada
desta quarta-feira, 25, a alteração da meta fiscal que permite um
déficit de R$ 170,5 bilhões nas contas do governo central ao final
de 2016. Com mais de 16 horas de votação, os deputados e senadores
votaram ainda 24 vetos presidenciais que trancavam a pauta.
- Em votação simbólica, o Congresso Nacional aprovou na madrugada
desta quarta-feira, 25, a alteração da meta fiscal que permite um
déficit de R$ 170,5 bilhões nas contas do governo central ao final
de 2016. Com mais de 16 horas de votação, os deputados e senadores
votaram ainda 24 vetos presidenciais que trancavam a pauta.
Publicidade
O
projeto aprovado pela Casa inclui R$ 56,6 bilhões de riscos fiscais,
passivos e despesas já contratadas, itens como a possibilidade de
redução do resultado fiscal dos Estados, uma quantia de R$ 9,0
bilhões para evitar a paralisação de obras do PAC, além de R$ 3,5
bilhões para a Defesa e R$ 3,0 bilhões para a Saúde.
projeto aprovado pela Casa inclui R$ 56,6 bilhões de riscos fiscais,
passivos e despesas já contratadas, itens como a possibilidade de
redução do resultado fiscal dos Estados, uma quantia de R$ 9,0
bilhões para evitar a paralisação de obras do PAC, além de R$ 3,5
bilhões para a Defesa e R$ 3,0 bilhões para a Saúde.
A
nova equipe econômica conseguiu ainda o descontingenciamento de R$
21,2 bilhões. Em março, o time então comandado pelo ex-ministro da
Fazenda Nelson Barbosa pediu o contingenciamento temporário. A
intenção do governo com a liberação dos recursos é garantir a
continuidade do funcionamento da máquina pública.
nova equipe econômica conseguiu ainda o descontingenciamento de R$
21,2 bilhões. Em março, o time então comandado pelo ex-ministro da
Fazenda Nelson Barbosa pediu o contingenciamento temporário. A
intenção do governo com a liberação dos recursos é garantir a
continuidade do funcionamento da máquina pública.
A
meta fiscal aprovada nesta madrugada precisará ser sancionada pelo
presidente em exercício, Michel Temer e prevê que o governo
entregue, ao final do ano, um déficit de R$ 163,942 bilhões no
setor público consolidado. O Governo Federal deverá apresentar um
resultado primário negativo de R$ 170,496 bilhões. Para Estados e
municípios, espera-se um superávit de R$ 6,554 bilhões.
meta fiscal aprovada nesta madrugada precisará ser sancionada pelo
presidente em exercício, Michel Temer e prevê que o governo
entregue, ao final do ano, um déficit de R$ 163,942 bilhões no
setor público consolidado. O Governo Federal deverá apresentar um
resultado primário negativo de R$ 170,496 bilhões. Para Estados e
municípios, espera-se um superávit de R$ 6,554 bilhões.
O
presidente do Congresso agilizou a votação da meta fiscal. Já de
madrugada, Renan evitou a votação dos destaques em separado e,
também em votação simbólica, rejeitou os 15 destaques
apresentados.
presidente do Congresso agilizou a votação da meta fiscal. Já de
madrugada, Renan evitou a votação dos destaques em separado e,
também em votação simbólica, rejeitou os 15 destaques
apresentados.
Com
a aprovação da matéria o governo não precisará mais
contingenciar R$ 137,9 bilhões no orçamento deste ano, o que seria
impossível já que a base contingenciável é de apenas R$ 29
bilhões. A equipe econômica contava com a votação do projeto até
o segunda-feira (30) para evitar um descumprimento da Lei de
Responsabilidade Fiscal.
a aprovação da matéria o governo não precisará mais
contingenciar R$ 137,9 bilhões no orçamento deste ano, o que seria
impossível já que a base contingenciável é de apenas R$ 29
bilhões. A equipe econômica contava com a votação do projeto até
o segunda-feira (30) para evitar um descumprimento da Lei de
Responsabilidade Fiscal.
O
senador Romero Jucá (PMDB-RR), que é ex-ministro do Planejamento e
construiu a proposta de mudança fiscal, esteve presente durante todo
o dia e foi um dos primeiros a falar durante a sessão do Congresso.
Já durante a madrugada, Jucá pediu a palavra para rebater críticas
que recebeu de deputados oposicionistas após o vazamento de áudio
em que se mostra contra a operação Lava Jato.
senador Romero Jucá (PMDB-RR), que é ex-ministro do Planejamento e
construiu a proposta de mudança fiscal, esteve presente durante todo
o dia e foi um dos primeiros a falar durante a sessão do Congresso.
Já durante a madrugada, Jucá pediu a palavra para rebater críticas
que recebeu de deputados oposicionistas após o vazamento de áudio
em que se mostra contra a operação Lava Jato.
A
sessão foi marcada pelas tentativas da oposição de obstruir a
votação. Os deputados oposicionistas, além de atacarem o
ex-ministro do Planejamento, também pediram, diversas vezes, que a
mudança da meta fosse votada na Comissão Mista de Orçamento (CMO).
O presidente da Casa precisou intervir para evitar que a sessão se
arrastasse ainda mais.
sessão foi marcada pelas tentativas da oposição de obstruir a
votação. Os deputados oposicionistas, além de atacarem o
ex-ministro do Planejamento, também pediram, diversas vezes, que a
mudança da meta fosse votada na Comissão Mista de Orçamento (CMO).
O presidente da Casa precisou intervir para evitar que a sessão se
arrastasse ainda mais.
O
relator da matéria, deputado Dagoberto (PDT-MS) encaminhou um
parecer favorável à aprovação e acatou, integralmente, os pedidos
do governo. Durante a leitura do seu relatório ele classificou o
déficit de R$ 170,5 bilhões de "justo e bom para o País".
relator da matéria, deputado Dagoberto (PDT-MS) encaminhou um
parecer favorável à aprovação e acatou, integralmente, os pedidos
do governo. Durante a leitura do seu relatório ele classificou o
déficit de R$ 170,5 bilhões de "justo e bom para o País".
Na
avaliação do deputado, a nova equipe econômica, comandada pelo
ministro da Fazenda, Henrique Meirelles, está fazendo um "esforço
legítimo para restabelecer confiança" e não se pode ignorar
as dificuldades financeiras que o País está enfrentando. "Nesse
contexto acreditamos que a equipe econômica fará todos os esforços
para permitir que déficit público tenha trajetória sustentável",
afirmou antes de ressaltar que "o ajuste fiscal é necessário".
avaliação do deputado, a nova equipe econômica, comandada pelo
ministro da Fazenda, Henrique Meirelles, está fazendo um "esforço
legítimo para restabelecer confiança" e não se pode ignorar
as dificuldades financeiras que o País está enfrentando. "Nesse
contexto acreditamos que a equipe econômica fará todos os esforços
para permitir que déficit público tenha trajetória sustentável",
afirmou antes de ressaltar que "o ajuste fiscal é necessário".
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