Finance concluded undertaking for brand new fiscal framework, says minister Haddad

The Minister of Finance, Fernando Haddad, mentioned this Monday (sixth) that his group has completed modeling the brand new fiscal framework that can substitute the spending ceiling. In response to him, the subsequent step can be to debate the mannequin with the federal government’s financial space, earlier than presenting it to President Luiz Inácio Lula da Silva. The cat ceiling is the rule at present in pressure that limits the expansion of a giant a part of the Union’s bills to the inflation of the earlier yr.

The knowledge was handed on by the minister after assembly with the president. There was an expectation that the brand new fiscal anchor could be introduced to the president right this moment. The federal government hopes that the brand new fiscal rule will be capable to assist management bills, to stabilize the general public debt, with out, nonetheless, harming investments and different expenditures thought of a precedence.

Haddad additionally mentioned that the brand new framework can be introduced by way of a supplementary regulation to the Nationwide Congress.

“By the way in which, it will likely be a proposal from society, as a result of it can contain a complementary regulation to be authorized by the Nationwide Congress. Proper now we’ve got our design closed, we’re going to current it to the financial space, take it to President Lula and ahead it to the Nationwide Congress”.

Such a regulation is adopted to manage particular issues, when expressly decided within the Structure of the Republic. In contrast to atypical legal guidelines, which require a easy majority for approval, complementary legal guidelines require an absolute majority of deputies and senators.