The government continues to negotiate the fiscal package in the House, the Paten bill was approved in the Senate, and the Copom is expected to announce the new basic interest rate today

BRAZIL POLITICS - Report 11 Dec 2024 by Murillo de Aragão and Cristiano Noronha

The government continues negotiating in the Lower House to secure a vote on the fiscal package. Yesterday, the President of the House, Arthur Lira (PP-AL), acknowledged that the package is controversial and faces substantive resistance from lawmakers. In the Senate, the bill instituting the Energy Transition Acceleration Program (Paten) was approved. This program aims to promote the replacement of polluting energy sources with renewable alternatives (PL 327/2021). Because it was amended, the text will return to the House. Today, the Central Bank's Monetary Policy Committee is set to announce its decision on the basic interest rate. Expectations suggest an increase to 12% per year.

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