Padilha said he will soon find the funding source for compensatory measures for payroll tax relief, there will be no legislative activity next week, and the Central Bank decided to maintain the basic interest rate

BRAZIL POLITICS - Report 20 Jun 2024 by Murillo de Aragão and Cristiano Noronha

Yesterday, the Minister of the Secretariat for Institutional Relations, Alexandre Padilha, said that the government expects to reach an agreement with Congress and business leaders within two weeks to establish a source of compensation for the payroll tax exemption. Padilha's deadline is the first week of July. Considering that there will be no activity in Congress next week due to the June festivals, only three weeks of legislative activity remain before the recess. Yesterday, the Central Bank's Monetary Policy Committee unanimously decided to maintain the interest rate at 10.50%.

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