Brazil Passes US$ 256 Billion Budget

Brazil’s National Congress approved December 29 the 2005 Federal Budget, which sets aside resources on the order of US$ 256 billion (R$ 681.3 billion) to pay for the costs of the administrative machine, investments, and debts.

Investments next year should total US$ 7.9 billion (R$ 21 billion). In May the monthly minimum wage will be raised from US$ 98 (R$ 260) to US$ 113 (R$ 300).


The government’s budget proposal, sent to the Congress in August, envisioned investments amounting to US$ 4.3 billion (R$ 11.5 billion). The reporter of the bill, Romero Jucá, raised this total to US$ 7.9 billion (R$ 21 billion).


According to Jucá, this increase was possible due to the “tightening of federal expenditures.” The lawmaker said that the government will have a lot of cash on hand next year, thus permitting an increase in investments.


The 2005 Federal Budget stipulates US$ 1.05 billion (R$ 2.8 billion) in infrastructure investments intended to bring financial returns.


These resources are part of an agreement between the Brazilian government and the International Monetary Fund (IMF), permitting the withdrawal of US$ 3.39 billion (R$ 9 billion) over a three-year period beginning in 2005, to be used to create a primary surplus in infrastructure projects.


In 2005 the first parcel of the US$ 1.05 billion (R$ 2.8 billion) will be passed along to eight projects. Over half – US$ 658 million (R$ 1.745 billion) – will go to highway reconstruction, conservation, and duplication.


The leader of the government in the Congress, Senator Fernando Bezerra (PTB-RN), emphasized that these funds will be essential for the restoration of 14 thousand kilometers of highway.


Translation: David Silberstein
Reporter – Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s PT Pays Cash to Vice President’s Firm, But Has no Record of It

Brazil’s ruling party, the Workers’ Party (PT) issued an official note yesterday, December 5, ...

Brazil in Still Another Trade Mission to Africa

The Apex (Brazilian Export and Investment Promotion Agency) is going to promote an exhibition ...

Lula Boosts Brazil Market by Giving Finance Minister Unreserved Backing

Latin American stocks gained ground, with Mexican shares posting some of the region’s biggest ...

Brazil’s FAO Conference on Land Reform Lacked Representativity

The Second International Agrarian Reform and Rural Development Conference, organized by the United Nation’s ...

Brazil Breaks Multi-State Gang Who Counterfeited Papers to Get US Visa

The Brazilian police, this Thursday, August 13, seized documents and computers during an operation ...

Brazilian General Accuses Lula of Lack of Independence for Opposing US Bases

Brazil magnified the importance of the deployment of US troops in Colombian military bases, ...

Brazil’s MST Calls for an End to Career Politicians

The political and social crisis that Brazil is facing is an opportunity for activists ...

The End of the Dollar Black Market in Brazil

Brazil’s Central Bank informed that the unification of the commercial and tourist currency exchange ...

Brazil Says Its Proven Oil Reserves Jumped to 12.6 Billion Barrels

At the end of 2007, Brazil had 12.623 billion barrels in proven oil reserves, ...

Bahia, You’ve Cast a Spell on Me

A new musical revolution is on the rise in Salvador. At any given time ...