Brazil’s Congress Weakens Lula’s $11.5 Billion Budget Cut Plan

Brazil’s economy stands at a crossroads. President Lula’s ambitious plan to slash 70 billion reais ($11.5 billion) in spending has hit a snag in Congress. The Lower House approved a watered-down version of the proposal, potentially undermining efforts to stabilize public finances. The revised plan retains some key elements. It blocks the expansion of tax […]