The market expects the announcement of government spending cuts, the House may resume voting on the Goods and Services Tax bill, and the Senate may hold hearings on the CBS and IBS bill

BRAZIL POLITICS - Report 29 Oct 2024 by Murillo de Aragão and Cristiano Noronha

The market is anticipating an announcement of spending cuts by the government. Yesterday, Finance Minister Fernando Haddad met with President Lula for more than two hours regarding this. The Lower House may resume voting today on the bill regulating the management and oversight of the Goods and Services Tax (PLP No. 108/24), authored by the Executive Branch. In the Senate, a series of debates will commence regarding Complementary Bill No. 68/24, which establishes the Contribution on Goods and Services (CBS) and the Goods and Services Tax (IBS). Hearings are scheduled through November 14.

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